Top 10 at 11: Gold stocks prop up ASX after shaky start to trade

News Phoebe Shields
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Traders are squirreling money away in the safe haven of gold as geopolitical uncertainty rises. Pic: Getty Images

Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.

With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest.

In brief, this is what the market has been up to this morning.

 

ASX wobbles on open

The ASX has had a questionable start to trading this morning, up just 1.1 points or 0.01%. 7 of 11 sectors are in decline as of about 10:30 am AEST.

The energy sector is putting in some work, climbing 2.67% despite a 0.6% dip in oil prices overnight.

Most of the strength is coming from our gold stocks, however, with the ASX All Ords Gold up almost 3% in this first hour of trade.

The ASX 200 Resources index is also benefiting, up 0.73%.

 

WINNERS

Code Name Last % Change Volume Market Cap
SRN Surefire Rescs NL 0.002 100% 1000000 $2,486,445
ENT Enterprise Metals 0.003 50% 1000000 $2,362,635
ICU Investor Centre Ltd 0.003 50% 200328 $609,023
PRM Prominence Energy 0.004 33% 1756858 $1,167,529
A11 Atlantic Lithium 0.17 26% 70826 $93,574,887
EDE Eden Inv Ltd 0.0025 25% 80323 $8,219,762
MRD Mount Ridley Mines 0.0025 25% 1000000 $1,556,978
ROG Red Sky Energy. 0.005 25% 160000 $21,688,909
SIS Simble Solutions 0.0025 25% 10999 $1,752,661
MKL Mighty Kingdom Ltd 0.019 19% 859281 $7,778,267
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In the news…

None of our Top 10 stocks for this morning had market sensitive announcements.

That said, gold prices shot up 1.8% overnight, hitting US$3402.4 an ounce as tensions between Israel and Iran escalate and softening US economic data raised the likelihood of interest rate cuts.

They’ve continued to rise in today’s trade, now hovering around US$3411.14 an ounce of gold.

That may be part of why Surefire Resources (ASX:SRN) and Enterprise Metals (ASX:ENT) are climbing this morning, as both companies hold gold projects among their portfolios.

 

LAGGARDS

Code Name Last % Change Volume Market Cap
BMO Bastion Minerals 0.002 -33% 1310000 $2,710,883
OVT Ovanti Limited 0.002 -33% 806217 $9,016,545
PAB Patrys Limited 0.001 -33% 1250000 $3,086,171
JAV Javelin Minerals Ltd 0.002 -20% 92699 $15,315,373
ADG Adelong Gold Limited 0.005 -17% 823435 $12,412,060
FBR FBR Ltd 0.005 -17% 702773 $34,136,713
IPT Impact Minerals 0.005 -17% 1384174 $23,731,980
SHE Stonehorse Energy Lt 0.005 -17% 16666 $4,106,610
TMK TMK Energy Limited 0.0025 -17% 916212 $30,667,149
ODA Orcoda Limited 0.07 -14% 42500 $15,188,651
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In the news…

Orcoda (ASX:ODA) managing director Geoffrey Jamieson will take on a dual role, picking up the chief financial officer responsibilities on top of his current duties as Samuel Yue resigns from the board for personal reasons.

ODA says this is a temporary measure as the company searches for a new CFO.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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