Gold is on a run. But the ASX has plunged. The ASX dropped around 2.25% points on Monday trade. The ASX S&P 200 closed at6978.3. While the energy and travel sectors were hit, gold grew. Spot prices for gold sit at 1686.80 us/oz at 17:35 WST ($2556.60/oz)
Saracen Minerals rose 7.4%, Newcrest Mining 5% and Resolute Mining 5.5%.
According to Commsec, 93% of stocks on the ASX 200 fell today, while 8 of the 14 that improved were gold miners due to the safe haven buying.
Wall Street is expecting trade to be negative when it opens for Monday Feb 24 trade.
Local shares were at record highs last week and showed improvement for the last three consecutive weeks
