After spending the entire session in red territory, the ASX 200 ended up closing down a nasty 1.18%. That leaves the index at 8,843.6 points at this mid-week point.

Today's unhappy performance from the Australian markets follows a similarly negative night up on Wall Street.

The Dow Jones Industrial Average Index (DJX: .DJI) closed down 0.59% after initially rising during morning trading.

In a rare coincidence, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) also finished up with a 0.59% loss.

But let's return to the local markets now and dive a little deeper into how today's pessimism filtered down into the various ASX sectors.

Winners and losers

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

What did Vault Minerals report?

• Gold production: 78,578 ounces for the quarter; 247,203 ounces year-to-date
• Gold sales: 77,707 ounces at an average realised price of A$6,987 per ounce
• All-in Sustaining Cost (AISC): A$3,006 per ounce for the quarter; A$2,909 per ounce YTD
• Quarterly free cash flow: $229 million, up 1,808% quarter-on-quarter
• Maiden interim dividend: 7 cents per share ($73 million), paid in April
• Cash and bullion: $728 million at quarter end, with no debt

What else do investors need to know?

Vault completed Stage 1 of its King of the Hills (KoTH) plant upgrade in March, with the new crushing circuit ramping up and demonstrating increased throughput ahead of Stage 2 commissioning in FY27. Capital investment for growth remains elevated but is focused on KoTH expansion and supporting projects at Deflector and Leonora regions.

The company continued its share buyback, deploying $39.6 million in the quarter and purchasing 8.8 million shares, positioning Vault among the highest yielding mid-cap gold producers in Australia. Exploration results across the portfolio are encouraging, especially at KoTH and Darlot, underpinning strategies to keep production strong beyond FY28.

What's next for Vault Minerals?

Vault is on track to deliver its FY26 production guidance of 332,000–360,000 ounces at an AISC between A$2,650 and A$2,850 per ounce. The KoTH Stage 2 processing plant upgrade is on schedule and on budget for commissioning in Q2 FY27, targeting a ~50% increase in throughput and a 34% lift in Leonora region gold production.

Further exploration and resource definition drilling at KoTH, Darlot, and Deflector aims to extend mine life and support sustained production. Preparations are also underway for a restart at Sugar Zone in Canada once permitting is complete.

Vault Minerals share price snapshot

Over the past 12 months, the Vault Minerals share price has risen 45%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 14% over the same period.

View Original Announcement

The post Vault Minerals posts strong Q3 gold production and free cash flow jump appeared first on The Motley Fool Australia.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 to rise

The Australian share market looks set to rise again on Wednesday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.2% higher. In the United States, the Dow Jones dropped 0.2%, but the S&P 500 rose 0.1% and the Nasdaq climbed 0.1%.

Buy Telix shares

The team at Bell Potter thinks investors should be buying Telix Pharmaceuticals Ltd (ASX: TLX) shares following its first-quarter sales update. In response to the update, the broker has retained its buy rating and $19.00 price target on Telix's shares. It said: "The company continues to make good progress on multiple pipeline products. Short term news flow includes acceptance by the FDA of the resubmitted NDA for Pixclara and the amendment to the IND for TLX591 (prostate cancer Tx). We maintain our Buy rating. FY26 EBITDA is increased by ~US$21m to US$55.3m."

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a subdued session after oil prices pulled back overnight. According to Bloomberg, the WTI crude oil price is down 1.7% to US$110.41 a barrel and the Brent crude oil price is down 3.8% to US$105.27 a barrel. This was driven by optimism that a US-Iran peace deal could be on the way.

Gold price rises

ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good session on Wednesday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 1.1% to US$4,734.4 an ounce. Traders have been buying gold in response to Donald Trump's comments on Iran.

Dividend payday

A number of ASX 200 shares will be rewarding their shareholders with their latest dividends on Wednesday. This includes financial technology company Iress Ltd (ASX: IRE), gold miners Regis Resources Ltd (ASX: RRL) and Vault Minerals Ltd (ASX: VAU), media giant News Corporation (ASX: NWS), and private health insurer NIB Holdings Limited (ASX: NHF). The latter is paying a fully franked 13 cents per share interim dividend today.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

ASX mining shares have been the worst hit by the war in Iran, with the materials sector losing 15.3% of its value since the conflict began.

Some investors took profits this month after a strong run for ASX 200 mining shares, amid fears that higher diesel prices and potential shortages could hurt earnings and production for 2H FY26.

ASX 200 mining shares have also declined alongside metals prices, with gold down 17%, silver down 22%, lithium carbonate down 8%, and copper down 7% over the month. Iron ore has demonstrated resilience, rising 7% over the period to US$106 per tonne on Friday.

With the US and Iran still negotiating a 15-point plan for peace, it is hoped this war and the ensuing global oil shock will be over soon.

This may have motivated some investors to take up new or enhanced positions in ASX 200 mining shares last week, given the bright long-term outlook for the sector and the opportunity to buy the dip.

Reflecting the miners' fightback last week, the S&P/ASX 300 Metal & Mining Index (ASX: XMM) rose 4.4% while the benchmark S&P/ASX 200 Index (ASX: XJO) gained 1% to finish at 8,516.3 points.

Seven of the 11 market sectors finished in the green last week.

Let's recap.

ASX 200 mining shares fight back

The BHP Group Ltd (ASX: BHP) share price increased 6.1% to close at $50.37 on Friday.

BHP shares reached a record $59.39 on 3 March before the war prompted investors to take profits.

Despite last week's rebound, the ASX 200's largest mining stock remains 13.8% lower over 30 days.

Rio Tinto Ltd (ASX: RIO) shares lifted 4.3% to $153.23 last week, while Fortescue Ltd (ASX: FMG) gained 6.5% to $20.19.

The Mineral Resources Ltd (ASX: MIN) share price soared 9.7% to $56.69.

South32 Ltd (ASX: S32) shares increased 1.3% to $4.03 per share.

ASX 200 copper share Sandfire Resources Ltd (ASX: SFR) lifted 1.8% to $15.88, while Capstone Copper Corp (ASX: CSC) edged 0.6% lower to $10.14.

ASX 200 lithium shares had a ripsnorter of a week, with PLS Group Ltd (ASX: PLS) rocketing 21.8% to close at $5.15 on Friday.

The Liontown Ltd (ASX: LTR) share price soared 20.9% to $1.77, and Core Lithium Ltd (ASX: CXO) gained 11.9% to 24 cents.

Nickel and lithium producer IGO Ltd (ASX: IGO) lifted 16.5% to $7.93 per share.

Lynas Rare Earths Ltd (ASX: LYC) shares closed the week 2.7% higher at $10.08 apiece.

Bauxite and alumina producer Alcoa Corporation CDI (ASX: AAI) lifted 3.5% to $85.95 per share.

What about ASX gold shares?

The market's largest ASX 200 gold share, Northern Star Resources Ltd (ASX: NST) rose 0.3% to close at $18.55 on Friday.

The Evolution Mining Ltd (ASX: EVN) share price lifted 0.4% to $12.46, and Newmont Corporation CDI (ASX: NEM) rose 3.1% to $146.85.

Among the mid-caps, Vault Minerals Ltd (ASX: VAU) shares lifted 2.1% to $3.96, and Regis Resources Ltd (ASX: RRL) rose 1.1% to $6.26.

Gold and copper miner, Greatland Resources Ltd (ASX: GGP) fell 3.5% to $9.76.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post ASX 200 mining shares rebound after March sell-off creates opportunities appeared first on The Motley Fool Australia.

Vault Minerals shares closed yesterday trading for $4.02. In late morning trade on Thursday, shares are changing hands for $3.98 apiece, down 1.1%. This sees the miner commanding a market cap of $4.1 billion.

For some context, the ASX 200 is up 0.2% at this same time, while the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down 1.5%.

The Aussie gold miners are broadly underperforming today following another overnight dip in the gold price. Gold is currently trading for US$4,497 per ounce, according to data from Bloomberg. That's down from US$5,322 per ounce at the beginning of March.

Still, you're unlikely to hear investors who bought the ASX 200 gold stock at the recent closing lows of $2.40 on 1 August complaining. Vault Minerals shares remain up 65.8% since then.

Now, here's what's happening today.

ASX 200 gold stock boosting capacity

Vault Minerals shares are sliding today despite the miner announcing positive progress at its King of the Hills plant upgrade.

The ASX 200 gold stock is working to increase King of the Hills' throughput capacity to some 6.0 million tonnes per annum (mtpa). The plant upgrade will increase throughput capacity by around 50% at a capital intensity of $57 per tonne of increased annual throughput capacity.

The miner said that the first state of the plant upgrade project has progressed on time and within budget, and it is now in the final stages of commissioning.

With the new primary crusher installation completed, management expects first ore to be fed into it next Tuesday, 31 March. As the old crusher was taken offline this past Tuesday, Vault has around 90,000 tonnes of crushed stocks on the ground. The miner expects this to provide uninterrupted mill feed prior to crusher ore commissioning.

As at 28 February 2026 Vault reported stockpiles of 15 million tonnes at King of the Hills, containing around 180,000 ounces of gold. The stockpiles are located nearby the processing facility.

The ASX 200 gold stock noted that this provides it with "significant operational flexibility to maintain base load mill feed under a range of operating scenarios, which may be required to be implemented to mitigate the risk of supply disruptions of key operational inputs due to the current tensions in the Middle East".

Looking ahead, Vault Minerals said that the second stage of the King of the Hills plant upgrade is also still on schedule and budget. The miner is targeting completion of stage two in the second quarter of FY 2027. That will deliver increased plant capacity of 7.5 to 8.0 Mtpa.

The post Up 66% since August, why is this $4 billion ASX 200 gold stock sinking today? appeared first on The Motley Fool Australia.

What did Vault Minerals report?

• Stage 1 KoTH plant upgrade commissioning has commenced, increasing plant throughput capacity to ~6.0 million tonnes per annum (mtpa)
• New primary crusher and conveyor belt extension installation completed
• Wet plant upgrades, including four additional CIL tanks and a new tailings booster pump, are in operation
• Stage 1 power station upgrade finalised with two new gas-fired gensets
• ~15mt of stockpiled ore at KoTH, containing ~180,000 ounces, as of 28 February 2026

What else do investors need to know?

Stage 2 of the KoTH plant upgrade remains on schedule and budget, targeting completion in the second quarter of FY27. This second phase is planned to lift total plant capacity to between 7.5 and 8.0 Mtpa throughout the second half of FY27.

The upgrade is projected to boost throughput by about 50% at a competitive capital intensity of $57 per tonne of increased annual capacity. Vault Minerals also highlighted the flexibility provided by its substantial stockpiles, which help ensure ongoing mill feed despite possible supply disruptions linked to ongoing tensions in the Middle East.

What's next for Vault Minerals?

Looking ahead, Vault Minerals will focus on finalising commissioning of the Stage 1 upgrades, with the first ore set to feed through the new crusher by 31 March 2026. Management will also continue advancing the Stage 2 expansion, keeping the project on time and within budget.

By expanding throughput capacity and securing a long-term, CPI-linked gas supply for its power station, the company aims to enhance operational resilience and steady production despite broader market uncertainties.

Vault Minerals share price snapshot

Over the past 12 months, Vault Minerals shares have risen 39%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.

View Original Announcement

The post Vault Minerals: KoTH plant upgrade commissioning kicks off appeared first on The Motley Fool Australia.

By the time trading wrapped up, the S&P/ASX 200 Index (ASX: XJO) had gained a pleasing 1.85%. That lifts the index up to 8,534.3 points.

This happy Wednesday for the local markets comes despite a far more bearish morning over on Wall Street.

The Dow Jones Industrial Average Index (DJX: .DJI) couldn't quite stick the landing, dropping 0.18%

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared even worse, falling by 0.84%.

But let's get back to the ASX now and dig into what was going on amongst the various ASX sectors today.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The S&P/ASX All Ords Gold Index (ASX: XGD) has fallen 31% since 28 February, when Israel and the US launched strikes on Iran.

By comparison, the S&P/ASX All Ords Index (ASX: XAO) has fallen nearly 9% amid investors worrying about higher oil and gas prices.

The gold price is now down 13.2% over the past week and down 15.8% over 30 days as the Middle East conflict continues.

For now, concern about a potential resurgence in inflation has overridden gold's traditional safe-haven appeal.

Analysts from Trading Economics explain:

Gold had dropped as much as 25% from its March peak as rising energy prices fueled inflation concerns and bolstered expectations of interest rate hikes.

In a blog, Zaner Precious Metals said the Iran conflict had triggered broad market deleveraging and a stronger US dollar.

This has pushed US Treasury bond yields close to a 10-month high, weakening the appeal of non-yielding precious metals like gold.

Zaner said markets are tilted toward a 'risk-off' temperament, commenting:

That risk aversion is underpinning the dollar, as the trade seeks maximum liquidity.

New expert ratings on ASX gold shares

The market's largest ASX gold share, Northern Star Resources Ltd (ASX: NST), has fallen 42% since 28 February to $17.60 today.

A second guidance downgrade from the miner has contributed to the stock's tumble.

Ord Minnett reckons this one is a buy.

Last week, the broker reiterated its buy rating on Northern Star but slashed its 12-month share price target from $29.70 to $23.70.

JP Morgan downgraded the ASX gold share to a hold rating with a $24 target.

The Evolution Mining Ltd (ASX: EVN) share price has fallen 28% since 28 February to $11.93 on Tuesday.

Ord Minnett upgraded its rating on Evolution shares to a buy last week, with a target of $13.10.

JP Morgan also upgraded Evolution shares to a buy rating with a more ambitious target of $15.50.

Newmont Corporation CDI (ASX: NEM) shares have fallen 22% since the war began to $138.21 at the time of writing.

Ord Minnett has reiterated its buy rating on Newmont shares but reduced its target from $215 to $205.

What about mid caps and small caps?

Mid-cap ASX gold share, Ramelius Resources Ltd (ASX: RMS), has lost a quarter of its value since 28 February.

Today, Ramelius Resources shares are trading at $3.45 apiece.

Last week, UBS maintained its hold rating on Ramelius Resources shares with a 12-month target of $5.20.

The Greatland Resources Ltd (ASX: GGP) share price has fallen 32% since the war began to $9.35 today.

On The Bull this week, Philippe Bui from Medallion Financial Group put a hold rating on Greatland Resources shares.

Bui said:

Given gold prices remain strong amid company development progressing steadily, GGP is moving closer to becoming a meaningful producer.

Vault Minerals Ltd (ASX: VAU) shares have fallen 38% since 28 February to $3.67 apiece.

Last week, Ord Minnett reiterated its buy rating on Vault Minerals shares with a price target of $7.40.

UBS also retained its buy rating and lifted its target slightly to $7.60.

The post ASX gold shares down 31% since war began: What should you do? appeared first on The Motley Fool Australia.

In early afternoon trade on Tuesday, the ASX 200 is up 0.4%, having given back earlier intraday gains of 1.6%.

The gold miners' strong rally is coming off the boil as well, though ASX gold shares are still outpacing the benchmark. At the time of writing, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is up 2.6% after having been up 5.3% in morning trade.

Here's how these ASX 200 gold stocks are performing at this same time:

• Northern Star shares are up 2.0% at $17.55
• Newmont Corp (ASX: NEM) shares are up 4.8% at $138.10
• Evolution Mining shares are up 3.1% at $11.86
• Ramelius Resources Ltd (ASX: RMS) shares are up 3.3% at $3.42
• Bellevue Gold Ltd (ASX: BGL) shares are up 0.4% at $1.26
• Genesis Minerals Ltd (ASX: GMD) shares are up 6.3% at $5.69
• Perseus Mining Ltd (ASX: PRU) shares are up 2.4% at $4.67
• Vault Minerals Ltd (ASX: VAU) shares are up 2.1% at $3.69
• Westgold Resources Ltd (ASX: WGX) shares are up 3.1% at $5.18
• Ora Banda Mining Ltd (ASX: OBM) shares are down 1.0% at $1.04

Boom!

With the exception of Ora Banda, here's why the Aussie gold miners are outperforming today.

ASX 200 gold stocks rally on Trump's Iran reprieve

After getting hammered throughout most of March following the outbreak of the Iran war on 28 February, ASX 200 gold stocks like Evolution Mining and Northern Star are rallying today amid hopes that the conflict could end sooner than later.

This comes after United States President Donald Trump extended his 48-hour deadline to begin bombing Iranian power plants if Iran doesn't fully reopen the Strait of Hormuz.

Trump offered a five-day reprieve, saying the US is in talks with Iran. An assertion that Iranian authorities have denied.

As you'll have noticed at the petrol station, the oil price has rocketed since the start of the war, with Iran all but closing the vital shipping route in retaliation.

Indeed, on Friday, Brent crude oil was trading north of US$112 per barrel, according to data from Bloomberg.

But the oil price plunged almost 11% overnight, briefly dipping below US$100 per barrel, and is currently trading at US$102.76 per barrel following Trump's comments.

And should the US succeed in reopening the Strait of Hormuz, which carries around 20% of the world's oil shipments, Trump predicted that the oil price would "drop like a rock".

Why is that important for ASX 200 gold stocks like Northern Star, Newmont, and Evolution Mining?

Mostly because soaring energy costs will rekindle global inflation and, in turn, lead to higher interest rates. And gold, which pays no yield itself, historically struggles in high or rising interest rate environments.

Stay tuned!

The post Why ASX 200 gold stocks like Northern Star and Evolution Mining are storming higher today appeared first on The Motley Fool Australia.

In morning trade, the ASX 200 is down 1.6%.

But the gold miners are doing it much tougher today as witnessed by the 7.1% decline in the S&P/ASX All Ordinaries Gold Index (ASX: XGD).

Here's how some of the top ASX 200 gold stock are performing at this same time:

• Northern Star shares are down 7.0% at $19.48
• Newmont shares are down 4.9% at $147.69
• Evolution Mining Ltd (ASX: EVN) shares are down 7.0% at $12.56
• Ramelius Resources Ltd(ASX: RMS) shares are down 8.7% at $3.69
• Bellevue Gold Ltd (ASX: BGL) shares are down 9.4% at $1.46
• Genesis Minerals Ltd (ASX: GMD) shares are down 9.1% at $5.61
• Perseus Mining Ltd (ASX: PRU) shares are down 6.6% at $4.84
• Vault Minerals Ltd (ASX: VAU) shares are down 8.6% at $4.23
• Westgold Resources Ltd (ASX: WGX) shares are down 7.8% at $5.69
• Ora Banda Mining Ltd (ASX: OBM) shares are down 9.4% at $1.35

Ouch!

Here's what's got investors reaching for their sell buttons.

ASX 200 gold stocks in the crosshairs

After enjoying a tremendous run through to the beginning of March this year, ASX 200 gold stocks like Northern Star and Newmont have come under selling pressure amid a sizeable retrace in the record setting gold price.

On 2 March, gold was trading for US$5,322 per ounce. Today, that same ounce is trading for US$4,834, according to data from Bloomberg. That sees the gold price down more than 9% this month.

This comes as the oil price heads the other direction. Brent crude oil is trading or US$107 per barrel today, up 38% since 2 March.

And it matters for two reasons.

First, this divergence in the two commodity prices is driving a rotation from ASX 200 gold stocks into ASX 200 energy stocks.

Woodside Energy Group Ltd (ASX: WDS) shares, for example, are up 4.5% today, while rival Santos Ltd (ASX: STO) shares are up 2.8%.

The other reason the gold price – and gold miners like Newmont, Northern Star and Evolution Mining – are taking a steep hit is that fast rising energy prices look likely to fuel inflation.

The Middle East conflict and its impact on global oil prices was cited by Fed officials yesterday when the US central bank opted to keep interest rates on hold. On Tuesday, the RBA also mentioned rising energy costs after it opted to increase interest rates in Australia.

And gold, which pays no yield itself and is priced in US dollars, tends to do better in a low or falling rate environment.

The bigger picture

Longer-term investors in most ASX 200 gold stocks should still be sitting on outsized gains.

Despite today's big retrace, the ASX All Ords Gold Index remains up 55.4% over 12 months.

The post Why are ASX 200 gold stocks like Northern Star and Newmont down so much today? appeared first on The Motley Fool Australia.

In late morning trade on Friday, the Northern Star share price is down 5.7% at $27.69. That sees Northern Star shares down 13.7% since Monday's close.

Evolution Mining shares are down 4.3% at the time of writing, changing hands for $15.05 apiece. This puts the Evolution Mining share price down 14.8% since Monday's close.

For some context, the ASX 200 is down 3.2% since the closing bell on Monday.

Here's how these other top ASX 200 gold stocks have performed over this same time:

• Newmont Corp (ASX: NEM) shares are down 11.5%
• Ramelius Resources Ltd(ASX: RMS) shares are down 10.0%
• Bellevue Gold Ltd (ASX: BGL) shares are down 11.7%
• Genesis Minerals Ltd (ASX: GMD) shares are down 9.0%
• Perseus Mining Ltd (ASX: PRU) shares are down 8.3%
• Vault Minerals Ltd (ASX: VAU) shares are down 13.2%
• Westgold Resources Ltd (ASX: WGX) shares are down 12.5%
• Ora Banda Mining Ltd (ASX: OBM) shares are down 3.2%

Why are ASX 200 gold stocks getting smashed despite gold's haven status?

In times of global uncertainty, investors often turn to gold as a relatively safe store of wealth.

And, indeed, on Monday, the gold price spiked to US$5,322 per ounce following the United States and Israel's military strikes on Iran. This, in turn, saw most ASX 200 gold stocks post outsized gains on Monday.

But over the following days, the gold price went into reverse.

The yellow metal is currently fetching US$5,094 per ounce, down 4.3% over the past four days.

"Gold's sell-off this week is a reminder to investors that even with rising demand for safe havens, the ultimate safe haven asset isn't immune if market forces work against it," Josh Gilbert, market analyst at eToro, said.

One of those market forces is the rapidly changing outlook for the prospect of interest rate cuts from the US Federal Reserve, the Reserve Bank of Australia, and a host of other prominent central banks.

That's because the sharp spike in oil prices (Brent crude is up 18% this week, trading at US$85.40 per barrel) is likely to fuel inflation worldwide. And gold tends to underperform in high or rising rate environments.

Fewer (or no) further interest rate cuts from the US Fed will also aid the already strengthening US dollar. And with the gold price in US dollars, that throws up additional headwinds for the yellow metal, as well as ASX 200 gold stocks.

According to Gilbert:

We're seeing similarities to what we saw in 2022. When Russia invaded Ukraine, oil prices surged, inflation spiked globally, and the Fed responded by hiking rates aggressively, which strengthened the dollar and sent gold lower for much of that year…

The physical gold market is also facing real disruption. The UAE, one of the world's most important regions for the global gold trade, closed its airspace over the weekend.

There are other forces pressuring the gold price as well.

As we've seen during other market pullbacks, traders have been selling off their gold holdings to meet margin calls, adding more gold supply to the market just as demand is dipping.

"This hints strongly at 'good for bad' activity in markets, where traders need to cover loss-making positions elsewhere by booking profits on their hitherto profitable trades," National Australia Bank Ltd (ASX: NAB) head of FX strategy Ray Attrill said (quoted by The Australian Financial Review).

Now what?

As for what's ahead for the likes of Northern Star and Evolution Mining, it's worth noting that the vast majority of ASX gold shares are still well into the green over the longer term.

S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which also contains some smaller miners outside of ASX 200 gold stocks – remains up 95.7% since this time last year.

"The structural case for gold hasn't changed," Gilbert said.

He noted:

Central banks have been buying at a historic pace for three consecutive years, concerns around fiscal deficits remain firmly in place, and the geopolitical backdrop is arguably more uncertain now than at any point this year. Gold is still up almost 20% year to date, and with the conflict in the Middle East not seemingly letting up for now, buyers may not be gone for too long.

The post If gold is a safe haven, why are ASX 200 gold stocks like Northern Star and Evolution Mining getting smashed this week? appeared first on The Motley Fool Australia.

For you to be entitled to a stock's next dividend, you must own it before its ex-dividend date.

Here are some of the ASX shares going ex-dividend next week.

ASX shares with ex-dividend dates next week

The post 32 ASX shares about to go ex-dividend appeared first on The Motley Fool Australia.

What did Vault Minerals report?

• High-grade gold intersections at KoTH, including 7.60 m at 31.7 g/t, 10.25 m at 4.13 g/t, and 1.77 m at 16.5 g/t in the granodiorite host
• Extensive infill and extensional drilling at Darlot's Pipeline and Warne areas, with results up to 151.5 g/t
• Deflector's Contact lode returned 1.3 m at 22.8 g/t, 1.3 m at 17.1 g/t, and 0.8 m at 27.6 g/t
• First assays at Sugar Zone TT8 yielded 1.05 m at 21.2 g/t and 6.29 m at 3.16 g/t, with more results pending
• Significant resource definition drilling undertaken: 63,378 m at KoTH in FY25 and 26,101 m to date in FY26

What else do investors need to know?

Vault is expanding exploration across its key Western Australian and Canadian assets. At KoTH, drilling has extended mineralisation up to 500 metres beyond current mining areas, highlighting strong potential to grow underground reserves and extend mine life. Darlot's Warne and Pipeline zones have produced encouraging results, presenting new opportunities for near-term production fronts. Meanwhile, at Deflector, recent drilling is establishing the Contact lode as a fresh mining front.

The company is also assessing a potential refurbishment of the Darlot processing facility to strengthen its processing footprint in the gold-rich region. Regional drilling at Deflector and Sugar Zone is ramping up, with substantial untested targets set to be explored through 2026.

What did Vault Minerals management say?

Managing Director Luke Tonkin said:

This outstanding suite of results highlights the opportunity to grow our Mineral Resource base and extend the life of mine across multiple deposits. Our team continues to unlock the potential of our well-established assets in highly prospective regions.

What's next for Vault Minerals?

The company's strategy centres on aggressive exploration to support life of mine extensions and build new mining fronts at KoTH, Darlot, Deflector, and Sugar Zone. Resource definition and step-out drilling will continue throughout FY26, targeting further reserve growth. Vault intends to complete pending assays and progress plans for a potential processing upgrade at Darlot, which could accelerate production from emerging gold zones.

Regional exploration at Deflector's Gullewa trend and Sugar Zone's TT8 prospect is scheduled to ramp up in coming months, aiming to identify additional high-grade targets and support ongoing growth in resource inventory.

Vault Minerals share price snapshot

Over the past 12 months, Vault Mineral shares have risen 123%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.

View Original Announcement

The post Vault Minerals: High-grade drilling results drive mine-life upside appeared first on The Motley Fool Australia.

What did Vault Minerals report?

• Group gold sales: 169,274 ounces for revenue of $817.3 million, up 20% on the previous corresponding period (pcp)
• Group EBITDA: $384.5 million, up 44% on pcp, with a margin of 47%
• Underlying net profit before tax: $211.7 million, up 93% on pcp
• Statutory net loss after tax: $35.2 million, reflecting the accounting treatment of early hedge settlements
• Cash and bullion at period end: $537.3 million, with no debt
• Maiden interim dividend: 7 cents per share (unfranked), plus ongoing share buy-back

What else do investors need to know?

Vault's early settlement of H2 FY26 gold hedges for $172.7 million means it is now almost entirely unhedged, with only 10,233 ounces remaining for delivery in early FY27. This provides full exposure to current high gold prices, positioning Vault for increased free cash flow in the coming half. Capital investment continued across its portfolio, including processing plant upgrades at King of the Hills (KoTH) and the Deflector mine transition, aiming for a step-change in production capacity.

The company also maintained a robust balance sheet with $537.3 million in cash and bullion and no debt. Its ongoing share buy-back program reflects a continued focus on shareholder returns, alongside the inaugural dividend.

What did Vault Minerals management say?

Managing Director Luke Tonkin said:

Our solid operating cash flow and disciplined investment have brought Vault to an inflection point earlier than expected, enabling us to reward shareholders with a maiden dividend.

What's next for Vault Minerals?

Vault's guidance for FY26 remains at 332,000 to 360,000 ounces of gold production, with portfolio upgrades aiming to drive a 34% lift in Leonora gold output by the end of FY27. Upcoming completion of the KoTH processing facility upgrades is set to deliver increased throughput and operational flexibility.

Management anticipates the company will enter a cash tax-paying position in FY27, paving the way for future franked dividends. Ongoing capital investments and aggressive exploration are intended to support further growth and mine life extension, helping Vault maintain its position as one of the highest-yielding ASX gold companies.

Vault Minerals share price snapshot

Over the past 12 months, Vault Minerals shares have risen 126%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.

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The post Vault Minerals posts half-year earnings; declares maiden dividend appeared first on The Motley Fool Australia.

In morning trade on Tuesday, Northern Star shares are up 4.4% to $30.57 each. Evolution Mining shares are close behind, up 4% today at $16.20 apiece.

For some context, the ASX 200 is up 0.2% at this same time while the S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which also contains some smaller gold miners outside of the ASX 200 – is up 2.5%.

Here's how these other top ASX 200 gold stocks are performing on Tuesday:

• Newmont Corp (ASX: NEM) shares are up 0.7%
• Ramelius Resources Ltd(ASX: RMS) shares are up 3.7%
• Bellevue Gold Ltd (ASX: BGL) shares are up 0.8%
• Genesis Minerals Ltd (ASX: GMD) shares are up 1.3%
• Perseus Mining Ltd (ASX: PRU) shares are up 1.2%
• Vault Minerals Ltd (ASX: VAU) shares are up 2.6%
• Westgold Resources Ltd (ASX: WGX) shares are up 2.7%
• Ora Banda Mining Ltd (ASX: OBM) shares are up 1.3%

Here's what's catching ASX investor interest today.

Why are ASX 200 gold stocks smashing the benchmark today?

Investors are piling into Aussie gold miners like Evolution Mining and Northern Star shares today amid renewed concerns over US President Donald Trump's global tariff plans.

With the US Supreme Court striking down Trump's earlier nation-by-nation tariffs as exceeding his authority, Trump now aims to level a potential 15% tariff on every nation for up to 150 days.

That's played into gold's haven status, with the yellow metal jumping early this morning to US$5,248 per ounce. At the time of writing, gold is fetching US$5,481 per ounce. This sees the gold price up 12.5% from the recent lows on 2 February and up a blistering 80% since this time last year.

And, as you'd expect, with higher gold prices, ASX 200 gold stocks tend to deliver juicier profits, which is driving investor interest in Aussie miners today.

What the experts are saying about the gold price

Commenting on the resurgent gold price that's sending Northern Star and Evolution Mining shares soaring today, Bloomberg markets strategist Mark Cranfield said:

Gold's strength amid a lower positioning from hedge funds shows that there's further position upside. The Commodity Futures Trading Commission data shows that the net-long position for gold futures have fallen to the lowest level in nearly a year.

Vasu Menon, strategist at Oversea-Chinese Banking Corp, also has a bullish medium-term outlook for the gold price. But he cautioned about short-term volatility, which could also see some price swings in ASX 200 gold stocks.

According to Menon:

There are enough structural factors in favour of gold in the medium term. In the short term, however, expect gold prices to be volatile after the sharp gains in recent months given still-unfolding developments with US trade policy, and the situation in Iran.

The post Why are ASX 200 gold stocks like Evolution Mining and Northern Star shares going gangbusters on Tuesday? appeared first on The Motley Fool Australia.

The rally, driven by a flood of investors fleeing to safe-haven assets amid concerns about global volatility, has been great news for gold miners and producers. In fact, a few have seen their share prices jump 100% or more over the past 12 months alone.

The surging ASX gold stocks

West African Resources Ltd (ASX: WAF) shares have soared 107.76% over the past year, to $3.62 a piece at the time of writing on Tuesday afternoon. The share price spiked to an all-time high in late January. And while the shares have since dropped 7.45%, they're still 17.75% higher for the year to date.

West African Resources shares have rallied particularly strongly this year, boosted by the gold price and promising exportation results. 

It's a very similar story for Vault Minerals Ltd (ASX: VAU). While its shares have also surged higher over the past 12 months (up 108.17% at the time of writing), they're still 0.09% lower for the year-to-date.

Again, the miner's shares have been boosted by the rallying gold price and by its strong gold production results posted last month. 

Perseus Mining Ltd (ASX: PRU) shares have also climbed 102.16% over the past 12 months. At the time of writing, the shares are trading at $5.62 each, a 0.35% year-to-date decline.

The miner also posted solid gold production and growing cash last month.

Can these ASX gold stocks keep climbing higher?

The price of gold has already hit record‑like levels this year and is expected to remain strong through 2026. Some think the price of gold could go even higher this year if demand for safe-haven assets surges further or volatility risk heightens.

If gold prices stay strong, then ASX gold stocks like West African Resources, Vault Minerals, and Perseus Mining could continue to outperform this year. 

The risk is that these companies are very reliant on gold prices, which means share price growth could be choppy throughout the year. 

Analysts currently have a strong buy rating on West African Resources shares and think the stock could surge another 77.53% this year to $6.40 a piece, at the time of writing.

Forecasts on Perseus Mining shares also imply a huge upside ahead. Most analysts (five out of nine) have a strong buy rating on the stock. The maximum target price is $8.36, which implies a potential 48.95% upside at the time of writing.

It's the same story for Vault Minerals shares, too. Most analysts (eight out of 11) have a buy or strong buy rating on the shares. The maximum target price is $8.70, which implies a potential 59.19% upside for investors at the time of writing.

The post These 3 ASX gold stocks jumped 100% in a year. Is there more upside ahead? appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The gold price is up 0.5% to US$4,958 per ounce, a new record, at the time of writing.

ASX gold shares and ASX gold ETFs are going nuts on Friday.

Get this: the S&P/ASX All Ords Gold Index (ASX: XGD) soared 1,322 points higher to a record 21,612.2 points this morning.

That equates to a staggering 6.5% gain in one day. By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.34%.

The screaming gold price continues to defy expectations.

Just three months ago, top broker Goldman Sachs predicted that gold would rise to US$4,900 per ounce by the end of 2026.

Well, that happened today, and it's only January.

The broker conducted a poll of institutional investors in November and found one in three expect gold to go above US$5,000 per ounce.

That seems increasingly likely.

The gold price is up by just under 15% in the year to date.

The market pushed the yellow metal 7% higher this past week alone after US President Donald Trump slapped a new 10% tariff on goods from eight European nations to punish their opposition to his aspirations to buy Greenland.

The gold price rocketed 65% in 2025, following a 27% gain in 2024, largely due to central banks diversifying away from the US dollar.

Let's see what ASX gold shares and ETFs are doing today.

Hold on to your hats… this is going to be fun.

ASX gold shares soar as gold price hits new record

Let's focus on the large-cap ASX gold shares first.

The Northern Star Resources Ltd (ASX: NST) share price is up 6.23% to $27.81.

Northern Star shares dropped 8.1% yesterday after the miner disappointed the market with its December quarter report.

Northern Star's report, significant because it's the largest gold miner by market cap on the ASX, combined with news of lower unemployment in Australia, which raised the prospects of an interest rate hike this year, weighed on gold shares and ETFs yesterday.

The Evolution Mining Ltd (ASX: EVN) share price is up 6.59% to $15.04.

Newmont Corporation CDI (ASX: NEM) shares are up 4.64% to $179.90 apiece.

Among the mid-cap ASX gold shares, Ramelius Resources Ltd (ASX: RMS) shares are up 8.3% to $4.96.

The Greatland Resources Ltd (ASX: GGP) share price is up 9.81% to $14.22.

The Genesis Minerals Ltd (ASX: GMD) share price is $8.06, up 8.04%.

Perseus Mining Ltd (ASX: PRU) shares are up 6.6% to $6.46 apiece.

Westgold Resources Ltd (ASX: WGX) shares are up 6.67% to $7.76.

The Capricorn Metals Ltd (ASX: CMM) share price is up 4% to $15.47.

Vault Minerals Ltd (ASX: VAU) shares are up 4.76% to $5.94 apiece.

Regis Resources Ltd (ASX: RRL) shares are up 8.64% to $8.24.

How about ASX small-cap gold shares?

Among the small-cap ASX gold shares, Resolute Mining Ltd (ASX: RSG) shares are up 8.14% to $1.40.

The Pantoro Gold Ltd (ASX: PNR) share price is 5.83% higher at $5.45.

Meeka Metals Ltd (ASX: MEK) shares are up 3.57% to 29 cents.

Kingsgate Consolidated Ltd (ASX: KCN) shares are up 2.48% to $7.03 apiece.

The Golden Horse Minerals Ltd CDI (ASX: GHM) share price is 0.64% higher at 79 cents.

Black Cat Syndicate Ltd (ASX: BC8) shares are up 5.24% to $1.56.

(By the way, Warwick Grigor, an analyst at Far East Capital, offered some advice on how to select small-cap gold stocks to buy this week.)

What about ASX gold ETFs?

The Betashares Global Gold Miners Currency Hedged ETF (ASX: MNRS) streaked 4.87% to a record $18.94 per unit today.

MNRS was the best performer among the 423 ETFs on the Australian share market last year.

The VanEck Gold Miners AUD ETF (ASX: GDX) is up 4.54% to $157.45.

Perth Mint Gold (ASX: PMGOLD) is up 2.29% to $71.92 per unit.

Global X Physical Gold (ASX: GOLD) is up 2.63% to $66.27 per unit.

VanEck Australian Resources ETF (ASX: MVR), the No. 1 performer among ETFs holding ASX shares in 2025, is up 1.22% to $47.41.

The post ASX gold shares go crazy as gold price rips toward US$5,000 on Friday appeared first on The Motley Fool Australia.

What did Vault Minerals report?

• Gold production of 76,520 ounces for the December quarter; YTD production of 168,607 ounces
• Gold sales of 77,798 ounces at an average realised price of A$4,582/oz; YTD sales of 169,274 ounces at A$4,508/oz
• All-in Sustaining Cost (AISC) of A$3,160/oz for the quarter; YTD AISC of A$2,865/oz
• Quarter-end cash and bullion balance of $537 million (excluding $45 million of gold in circuit and concentrate)
• Quarterly underlying free cash flow of $12 million; $5 million spent on share buybacks
• Growth capital expenditure of $82 million, primarily for KoTH plant expansion and Deflector mining fleet acquisition

What else do investors need to know?

The company remains on track with the Stage 1 expansion of the King of the Hills (KoTH) processing plant, expected to integrate by the end of March, with throughput ramping up throughout the final quarter of FY26. Transition to owner-operator mining at Deflector is progressing well, with the fleet ramp-up on schedule for steady state production in Q4.

Vault made significant progress with exploration and resource definition at Leonora, Mount Monger, and Deflector, aiming to extend mine lives and improve mill grades. Drilling at the TT8 target near Sugar Zone will commence in Q3, pending receipt of permits.

The company settled all gold forward sales contracts for the second half of FY26 and is now materially unhedged, providing full exposure to current gold prices. The share buy-back program saw 1.02 million shares repurchased during the quarter, with more capacity set aside for future periods.

What did Vault Minerals management say?

Managing Director Luke Tonkin said:

Our strong results this quarter demonstrate the benefits of our diversified portfolio and commitment to building long-term value. As our major investments in processing and fleet upgrades near completion, we are well positioned to deliver increased free cash generation and capitalise fully on the gold price.

What's next for Vault Minerals?

Vault reiterated its FY26 group production guidance of 332,000 to 360,000 ounces with a clear pathway to growth. As capital projects at KoTH and Deflector progress, the business anticipates a step change in operational performance from the second half of FY26, with a targeted ~11% lift in gold production by FY28.

Ongoing exploration across key regions is expected to underpin extended mine lives and further production growth. The upcoming period will also see updates from the Leonora drilling program and commencement of drilling at new Deflector and Sugar Zone targets.

Vault Minerals share price snapshot

Over the past 12 months, Vault Minerals shares have risen 153%, strongly outperforming the S&P/ASX 200 Index (ASX: XJO) which has climbed 5% over the same period.

View Original Announcement

The post Vault Minerals delivers strong gold production and cash flow in December quarter appeared first on The Motley Fool Australia.

The analyst team at RBC said gold's 13% or so increase over the second half of the financial year had driven strong equity returns.

They went on to say:

While valuations are no longer as cheap, they remain acceptable relative to gold's strength. We maintain our original FY26 investment framework and continue to favour miners delivering meaningful near-term production growth.

A key theme over the second quarter of the year just finished, they said, would be the fact that some gold miners would be moving to a tax-paying position as accrued losses were used up.

They flagged Northern Star Resources Ltd (ASX: NST), Evolution Mining Ltd (ASX: EVN), Ramelius Resources Ltd (ASX: RMS), and Westgold Resources (ASX: WGX) as falling into this category.

They went on to say:

Balance sheets across our coverage remain in strong net cash positions, well-positioned to self-fund growth commitments. We cautiously favour investments in growth over operational/valuation safety. Gold's price strength has unlocked previously dormant in-ground value, and we believe now is the time to realise this latent value as potential projects.

Best of a good bunch

The companies RBC has an outperform rating on are Westgold, Bellevue Gold Ltd (ASX: BGL), Vault Minerals Ltd (ASX: VAU), and Regis Resources Ltd (ASX: RRL).

On Westgold, RBC expects the company to deliver production for the quarter of 93,000 ounces of gold at a cost of $2824 per ounce, which is ahead of consensus estimates of 90,000 ounces.

The RBC team said any second-quarter weakness should be considered against the company's strong three-year production growth, and a pathway to producing 500,000 ounces of gold per year beyond FY28 at a cost of less than $2500 per ounce.

Regarding Bellevue Gold, which has already released its second quarter result, RBC said higher production was expected in the second half and, "Continuation of higher recoveries … over the financial year presents upside to our forecasts''.

Vault Minerals, the RBC report says, is expected to report 92,000 ounces of gold produced during the quarter, in line with consensus estimates.

This will have been the company's last hedged quarter, RBC says, and future earnings growth will come from the hedge book "rolling off".

Regis has also already released its second-quarter results, and RBC said it expected high free cash flow yields from the company for the 2026 and 2027 financial years.

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