ASX All Ords gold shares are charging higher on Tuesday, with the S&P/ASX All Ordinaries Gold Index (ASX: XGD) currently up 1.08%.
Meanwhile, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.13%.
The gold price is currently $US3,312 per ounce, up 0.27%.
ASX All Ords gold shares rising on Tuesday
The gold price remains strong due to its safe-haven appeal amid geopolitical tensions, global economic uncertainty, and US tariffs.
But it's been trading below its record high for a couple of months now, as James Gerrish of Shaw and Partners points out.
The gold price hit a record US$3,500.05 per ounce on 22 April. Since then, the ASX All Ords Gold Index has been volatile.
Gerrish tips that "a period of ongoing consolidation is starting to unfold" for the gold price, with implications for ASX All Ords gold shares.
Niv Dagan of Peak Asset Management says the gold price is "facing key resistance".
He's concerned about the impact on ASX All Ords small-cap gold shares, in particular.
On The Bull this week, Dagan discusses his view on Wildcat Resources Ltd (ASX: WC8), a small-cap lithium and gold explorer.
This ASX All Ords gold share has a market capitalisation of $215 million.
Its flagship asset is the Tabba Tabba lithium project in the Pilbara region of Western Australia.
Its Mt Adrah Gold project is in the gold-rich Lachlan Fold Belt of New South Wales.
Wildcat Resources shares hit a 52-week low of 12.5 cents per share on 20 June.
The ASX All Ords gold share has rebounded strongly since, rising 28% over the past seven trading days to 16 cents today.
In terms of company news during this time, we learned that Wildcat has completed DFS metallurgical drilling at Tabba Tabba on 24 June.
On 25 June, Wildcat announced an on-market share buyback of up to $5 million.
But Dagan says investors would be wise not to wait around for a recovery in the Wildcat share price.
Expert's take on Wildcat Resources shares
Dagan has a sell rating on this ASX All Ords small-cap gold share.
He explains his sell rating:
In our view, the gold price is facing key resistance, and small market capitalisation gold exposure in the S&P/ASX Small Ordinaries index is elevated.
Any US dollar strength or retreat in inflation could pressure these stocks.
It may be prudent to trim or sell WC8 ahead of any potential broader sentiment shifts in the gold sector.
How are the big ASX All Ords gold shares performing today?
Here's how the six largest ASX gold shares are trading today:
Northern Star Resources Ltd (ASX: NST) shares are up 1.32% to $18.80
Evolution Mining Ltd (ASX: EVN) shares are up 1.22% to $7.89
Newmont Corporate CDI (ASX: NEM) shares are up 1.8% to $88.88
Genesis Minerals Ltd (ASX: GMD) shares are up 0.7% to $4.33
Perseus Mining Ltd (ASX: PRU) shares are up 0.29% to $3.41
Capricorn Metals Ltd (ASX: CMM) shares are up 0.26% to $9.57
