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        <title>Mako Gold (ASX:MKG) Share Price News | The Motley Fool Australia</title>
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                                <title>Why are ASX gold shares leaping today?</title>
                <link>https://www.fool.com.au/2022/05/25/why-are-asx-gold-shares-leaping-today/</link>
                                <pubDate>Wed, 25 May 2022 03:47:22 +0000</pubDate>
                <dc:creator><![CDATA[Monica O'Shea]]></dc:creator>
                		<category><![CDATA[Gold]]></category>
		<category><![CDATA[Resources Shares]]></category>

                <guid isPermaLink="false">https://www.fool.com.au/?p=1372856</guid>
                                    <description><![CDATA[<p>Gold prices jumped in the United States overnight.</p>
<p>The post <a href="https://www.fool.com.au/2022/05/25/why-are-asx-gold-shares-leaping-today/">Why are ASX gold shares leaping today?</a> appeared first on <a href="https://www.fool.com.au">The Motley Fool Australia</a>.</p>
]]></description>
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<p>The<strong> S&amp;P/ASX 200 Resources</strong> <strong>Index </strong>(ASX: XJR) is leaping 1.71% today, and ASX gold shares are part of the trend.</p>



<p>Gold shares rising today include <strong>Evolution Mining Ltd </strong>(<a class="tickerized-link" href="https://www.fool.com.au/tickers/asx-evn/">ASX: EVN</a>), <strong>Northern Star Resources Ltd </strong>(<a class="tickerized-link" href="https://www.fool.com.au/tickers/asx-nst/">ASX: NST</a>), <strong>OceanaGold Corp</strong> (<a class="tickerized-link" href="https://www.fool.com.au/tickers/asx-ogc/">ASX: OGC</a>), <strong>Silver Lake Resources Limited </strong>(<a class="tickerized-link" href="https://www.fool.com.au/tickers/asx-slr/">ASX: SLR</a>) and <br><strong>Mako Gold Ltd </strong>(<a class="tickerized-link" href="https://www.fool.com.au/tickers/asx-mkg/">ASX: MKG</a>) . </p>



<p>So what is impacting ASX gold shares today? </p>



<h2 class="wp-block-heading" id="h-gold-prices">Gold prices </h2>



<p>At the time of writing, OceanaGold Corp shares are up 7.95%, while Evolution Mining is leaping 4.88%. Silver Lake is jumping 3.86%, while Northern Star is climbing 3.43%, and Mako Gold is up 2.47%. </p>



<p>Gold prices <a href="https://www.cnbc.com/2022/05/24/gold-markets-dollar-federal-reserve-interest-rate-inflation.html" target="_blank" rel="noreferrer noopener">jumped in the United States</a> overnight due to the US dollar weakening and lower treasury yields, CNBC reported. </p>



<p>US gold futures leapt 1% to $1,885.60 an ounce, while spot gold climbed 0.7% to $1,866.39 an ounce on Tuesday.  </p>



<p>Commenting on the gold prices, City Index UK senior market analyst Matt Simpson said: </p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"><p>The weaker dollar has helped gold break back above its 200-day average&#8230; and we're not yet convinced the greenback has seen a low.</p></blockquote>



<p>Gold futures have <a href="https://www.cnbc.com/quotes/@GC.1" target="_blank" rel="noreferrer noopener">since pulled back</a> to $1,862 at the time of writing, but this is still the highest level since 9 May.</p>



<p>Meanwhile, Mako Gold today reported <a href="https://www.fool.com.au/tickers/asx-mkg/announcements/2022-05-25/2a1375534/exceptional-gogbala-results-ahead-of-napie-maiden-resource/">"exceptional drilling results"</a> at the Gogbala Prospect in Côte d'Ivoire, West Africa. The company intersected high-grade gold mineralisation at 40 of 49 holes at the project. </p>



<p>In other news, OceanaGold released a sustainability report yesterday. President and CEO Gerard Bond described <a href="https://www.fool.com.au/tickers/asx-ogc/announcements/2022-05-24/3a594124/oceanagold-releases-sustainability-report/">2021 as a "remarkable year"</a> both operationally and due to improving sustainability performance. The company aims to cut carbon emissions by 30% per ounce of gold by 2030. </p>



<h2 class="wp-block-heading" id="h-share-price-snapshot">Share price snapshot </h2>



<p>OceanaGold Corp shares have surged 39% in the year to date, while Evolution Mining shares have slipped nearly 5%. </p>



<p>Silver Lake shares have descended 9% year to date, while Northern Star Resources have dropped 19%, and Mako Gold shares have slipped nearly 25%. </p>



<p>For perspective, the ASX 200 Resources Index has jumped nearly 11% year to date. </p>
<p>The post <a href="https://www.fool.com.au/2022/05/25/why-are-asx-gold-shares-leaping-today/">Why are ASX gold shares leaping today?</a> appeared first on <a href="https://www.fool.com.au">The Motley Fool Australia</a>.</p>
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