After slipping down for most of this week, gold prices have stabilised due to ongoing concerns over tensions between US and China.

This comes as the US reports a 5 per cent drop in its gross domestic product during the first quarter of 2020, with analysts flagging that the second quarter will be much worse.

>>>Scroll down for the top small cap movers over the past week>>>

Kitco.com senior analyst Jim Wyckoff says that souring US-China relations are back on the front burner of the market place.

The two powers have been sparring over China’s human rights policies while China has accused the US of meddling. The US has also criticised China’s handling of the COVID-19 pandemic.

Already, US President Donald Trump has indicated that the trade deal between the two countries might be dropped.

Spot gold is currently trading at $US1,720.55 an ounce, or $2,589.75 in Australian dollar terms.

While the bulls are still out for gold with major banks such as Citibank believing that the precious metal could gradually rise up to $US2,000 an ounce, there is still some resistance to break out past the $US1,800 an ounce mark.

USD (yellow) and AUD (orange) gold prices over the past month.

Winners & Losers

Here’s how ASX gold stocks performed for the period May 22 – May 29 [intraday]:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

CODE NAME 1 WEEK TOTAL RETURN % 1 YEAR TOTAL RETURN % PRICE [Intraday Friday] MARKET CAP
AVW AVIRA RESOURCES 150 -17 0.0025 $1,125,000.00
RGL RIVERSGOLD 69 33 0.027 $6,923,104.00
PGI PANTERRA GOLD 64 171 0.046 $9,757,082.00
AWV ANOVA METALS 58 116 0.019 $24,940,830.00
TNR TORIAN RESOURCES 53 86 0.026 $10,059,672.00
TSC TWENTY SEVEN CO 50 200 0.009 $11,890,567.00
BLK BLACKHAM RESOURCES 44 30 0.013 $120,339,104.00
MAU MAGNETIC RESOURCES 44 238 1.15 $227,639,936.00
SVL SILVER MINES 40 221 0.125 $118,736,976.00
E2M E2 METALS 38 -11 0.165 $15,158,515.00
TLM TALISMAN MINING 35 19 0.1 $18,289,582.00
RED RED 5 33 140 0.3 $604,832,384.00
VKA VIKING MINES 33 -38 0.008 $2,509,742.75
CDT CASTLE MINERALS 33 33 0.008 $2,182,527.75
SAU SOUTHERN GOLD 33 20 0.16 $19,249,314.00
GSN GREAT SOUTHERN MINING 32 134 0.075 $27,469,446.00
BRB BREAKER RESOURCES 30 -13 0.28 $62,456,420.00
SLZ SULTAN RESOURCES 29 150 0.135 $6,667,542.00
CAI CALIDUS RESOURCES 29 44 0.36 $75,184,920.00
AGS ALLIANCE RESOURCES 28 78 0.16 $26,699,978.00
ALY ALCHEMY RESOURCES 27 12 0.014 $7,707,341.00
HRZ HORIZON MINERALS 26 0 0.115 $47,562,396.00
CTO CITIGOLD CORP 25 25 0.005 $12,105,866.00
NUS NUSANTARA RESOURCES 25 89 0.33 $66,833,548.00
KWR KINGWEST RESOURCES 24 16 0.18 $18,895,334.00
ADN ANDROMEDA METALS 24 520 0.062 $85,311,240.00
TTM TITAN MINERALS 24 -56 0.089 $66,337,312.00
RML RESOLUTION MINERALS 23 30 0.069 $13,418,190.00
SPX SPECTRUM METALS 23 900 0.19 $273,697,888.00
LEX LEFROY EXPLORATION 22 -3 0.195 $20,097,348.00
DAU DAMPIER GOLD 22 -3 0.028 $7,139,580.00
BGL BELLEVUE GOLD 22 9 0.7 $463,795,168.00
RMS RAMELIUS RESOURCES 21 105 1.72 $1,355,008,640.00
PRX PRODIGY GOLD 21 -48 0.052 $27,289,498.00
MEU MARMOTA 20 266 0.053 $43,960,392.00
TMX TERRAIN MINERALS 20 100 0.006 $4,338,966.00
TRY TROY RESOURCES 20 -2 0.096 $61,310,184.00
MLL MALI LITHIUM 20 -43 0.09 $26,339,894.00
HAW HAWTHORN RESOURCES 19 196 0.16 $53,891,576.00
HMX HAMMER METALS 18 -7 0.026 $13,970,770.00
NES NELSON RESOURCES 18 -18 0.046 $2,482,622.75
SAR SARACEN MINERAL HOLDINGS 18 73 5.56 $6,154,131,456.00
PRU PERSEUS MINING 17 169 1.25 $1,448,388,736.00
KCN KINGSGATE CONSOLIDATED 17 70 0.45 $99,539,416.00
KRM KINGSROSE MINING 17 11 0.042 $32,120,324.00
GWR GWR GROUP 17 -39 0.07 $17,828,736.00
BNR BULLETIN RESOURCES 17 312 0.07 $12,550,515.00
TAR TARUGA MINERALS 17 -44 0.014 $3,894,418.00
ARM AURORA MINERALS 17 75 0.014 $3,513,998.50
KTA KRAKATOA RESOURCES 16 29 0.036 $7,875,000.00
PDI PREDICTIVE DISCOVERY 16 734 0.074 $44,688,932.00
SBM ST BARBARA 15 13 3.16 $2,242,871,808.00
GSM GOLDEN STATE MINING 15 171 0.19 $6,409,585.00
MKG MAKO GOLD 15 -27 0.063 $6,507,670.50
TBR TRIBUNE RESOURCES 14 77 7.55 $388,578,208.00
DCN DACIAN GOLD 14 -54 0.455 $255,881,792.00
GOR GOLD ROAD RESOURCES 14 71 1.755 $1,561,491,840.00
AMG AUSMEX MINING GROUP 13 -59 0.043 $22,942,792.00
ALK ALKANE RESOURCES 13 214 0.83 $478,527,488.00
DEG DE GREY MINING 13 425 0.405 $456,269,792.00
MSR MANAS RESOUCES 13 50 0.0045 $10,572,650.00
RSG RESOLUTE MINING 12 1 1.14 $1,268,251,008.00
DGO DGO GOLD 12 205 2.32 $98,403,440.00
CMM CAPRICORN METALS 11 251 1.56 $531,052,384.00
BDC BARDOC GOLD 11 35 0.089 $125,614,360.00
MML MEDUSA MINING 11 88 0.75 $161,040,576.00
BYH BRYAH RESOURCES 11 -42 0.042 $3,429,710.50
SLR SILVER LAKE RESOURCES 10 176 2.18 $1,944,455,424.00
AOP APOLLO CONSOLIDATED 10 29 0.27 $71,310,328.00
WWI WEST WITS MINING 9 71 0.012 $12,187,903.00
MAT MATSA RESOURCES 9 -11 0.12 $29,499,258.00
NCM NEWCREST MINING 9 19 31.62 $25,799,641,088.00
ERM EMMERSON RESOURCES 9 21 0.097 $42,060,532.00
TAM TANAMI GOLD NL 9 20 0.049 $58,754,852.00
BC8 BLACK CAT SYNDICATE 9 64 0.435 $35,776,336.00
STN SATURN METALS 9 62 0.38 $33,667,072.00
GML GATEWAY MINING 8 8 0.013 $18,754,624.00
CWX CARAWINE RESOURCES 8 60 0.2 $15,453,774.00
EVN EVOLUTION MINING 8 62 5.9 $10,379,881,472.00
ARL ARDEA RESOURCES 8 -22 0.27 $31,084,616.00
OKR OKAPI RESOURCES 8 29 0.135 $5,766,858.50
CXU CAULDRON ENERGY 8 40 0.028 $10,159,826.00
WGX WESTGOLD RESOURCES 8 48 2.39 $912,524,992.00
WAF WEST AFRICAN RESOURCES 8 149 0.785 $692,547,456.00
SIH SIHAYO GOLD 7 7 0.015 $31,466,550.00
ARS ALT RESOURCES 7 92 0.046 $28,548,700.00
PUA PURE ALUMINA 7 -70 0.016 $3,548,173.25
NST NORTHERN STAR RESOURCES 7 52 14.37 $10,627,100,672.00
NXM NEXUS MINERALS 7 2 0.049 $6,266,749.50
DGR DGR GLOBAL 6 -44 0.066 $43,602,048.00
NWM NORWEST MINERALS 6 -13 0.175 $14,672,031.00
GMN GOLD MOUNTAIN 6 -9 0.053 $32,525,314.00
VMC VENUS METALS CORP 6 51 0.18 $27,194,162.00
RRL REGIS RESOURCES 6 18 5.24 $2,673,029,120.00
OAU ORA GOLD 6 90 0.019 $12,276,487.00
EMR EMERALD RESOURCES NL 5 17 0.49 $252,066,144.00
BBX BBX MINERALS 5 -52 0.105 $45,907,588.00
A1G AFRICAN GOLD 5 -52 0.086 $4,764,200.00
AQI ALICANTO MINERALS 4 95 0.072 $19,254,944.00
RXL ROX RESOURCES 4 160 0.026 $40,822,524.00
AUC AUSGOLD 4 -26 0.014 $15,486,794.00
ARV ARTEMIS RESOURCES 4 -18 0.028 $31,014,584.00
AAR ANGLO AUSTRALIAN RESOURCES 3 100 0.15 $69,642,928.00
NVA NOVA MINERALS 2 206 0.049 $48,862,204.00
FML FOCUS MINERALS 2 16 0.26 $49,342,112.00
NAG NAGAMBIE RESOURCES 2 25 0.055 $27,496,280.00
DTR DATELINE RESOURCES 0 -33 0.002 $16,420,156.00
OKU OKLO RESOURCES 0 67 0.3 $141,693,936.00
ANL AMANI GOLD 0 0 0.002 $13,668,993.00
MLS METALS AUSTRALIA 0 -50 0.001 $3,207,352.75
LNY LANEWAY RESOURCES 0 -56 0.004 $16,740,297.00
GNM GREAT NORTHERN MINERALS 0 -60 0.008 $4,878,785.00
DHR DARK HORSE RESOURCES 0 -60 0.002 $4,988,126.00
GED GOLDEN DEEPS 0 -74 0.007 $2,104,564.25
AYR ALLOY RESOURCES 0 -40 0.015 $5,365,887.00
GMR GOLDEN RIM RESOURCES 0 -50 0.006 $7,352,446.50
SFM SANTA FE MINERALS 0 -43 0.054 $3,932,214.50
SMI SANTANA MINERALS 0 0 0.003 $8,051,836.50
CHN CHALICE GOLD MINES -1 875 1.17 $376,200,096.00
CYL CATALYST METALS -1 42 2.85 $239,782,976.00
RND RAND MINING -2 -18 1.92 $117,289,528.00
AME ALTO METALS -2 97 0.063 $18,482,548.00
BCN BEACON MINERALS -3 90 0.038 $111,629,024.00
TIE TIETTO MINERALS -4 141 0.35 $124,295,200.00
VAN VANGO MINING -4 -32 0.115 $93,096,632.00
MOH MOHO RESOURCES NL -4 -14 0.065 $4,170,577.00
CDV CARDINAL RESOURCES -5 15 0.42 $215,010,544.00
BAR BARRA RESOURCES -5 -30 0.019 $10,140,768.00
CY5 CYGNUS GOLD -7 -10 0.043 $3,276,052.00
DTM DART MINING -7 -60 0.056 $3,536,910.00
GUL GULLEWA -7 103 0.065 $10,083,002.00
HRN HORIZON GOLD LIMITED -8 64 0.23 $16,071,430.00
CGN CRATER GOLD MINING -10 -40 0.009 $11,047,463.00
BRV BIG RIVER GOLD -11 55 0.031 $40,856,964.00
MDI MIDDLE ISLAND RESOURCES -12 92 0.0115 $25,585,074.00
GBZ GBM RESOURCES -12 117 0.065 $15,527,631.00
AAJ ARUMA RESOURCES -13 -30 0.0035 $2,482,948.75
ONX ORMINEX -13 -50 0.052 $26,955,108.00
GBR GREAT BOULDER RESOURCES -14 -56 0.03 $4,003,619.75
MCT METALICITY 33 -28 0.004 $2,900,000.00
MTH MITHRIL RESOURCES -17 100 0.01 $6,375,059.50
KGM KALNORTH GOLD MINES -22 75 0.007 $6,259,680.50

 

Small cap highlights

Apollo Consolidated (ASX:AOP) has hit 22m at 3.44g/t gold as part of drilling to expand a maiden 1-million-ounce resource at the flagship Rebecca gold project.

That intercept, which includes a high-grade zone of 13m grading 5.19g/t, was in a new area 120m below the ‘Maddy’ mineralised structure.

It adds to the interpretation that higher-grade zones continue below current mineral resources, Apollo says. 

Black Cat Syndicate (ASX:BC8) is boosting its gold resources by 145 per cent to 719,000oz through a whole slew of acquisitions including two brownfields projects from Silver Lake Resources (ASX:SLR) for about 8.5 million shares.

The Fingals project, about 30m southeast of the company’s Bulong project, and Rowe’s Find, about 100km east of Bulong, which comprise a number of modern and historically mined areas, have a combined resource of 5.2 million tonnes grading 2.5 grams per tonne (g/t) gold for 425,000oz of contained gold.

Black Cat has also reached further agreements to acquire ground from unrelated third-party vendors next to Bulong and Fingals.

De Grey Mining (ASX:DEG) continues to boost the size of its Hemi discovery in Western Australia’s Pilbara region with drilling at the Aquila zone returning 139.5m at 0.7g/t gold from 103.89m, 27m at 2.7g/t gold from 152m, 32m at 2.5g/t gold from 168m and 22m at 2.4g/t gold from 131m.

The shallow gold mineralisation across the combined Aquila, Brolga and Crow gold systems remains open and now extends over 1,000m in width, 850m in strike and 300m in depth.

Results from drilling at the Brolga zone are expected next week, while about 40 per cent of the initial 5,000m reverse circulation drilling at Crow has been completed.

Meanwhile, Tesoro Resources (ASX:TSO) is also letting the drill bit do the talking with the intersection of more wide, high-grade gold zones at its El Zorro project in Chile.

Top results are a 4.3m interval at 7.25g/t gold from 146.7m including 2.3m at 13.3g/t gold from 146.7m that extends high-grade mineralisation within the CC500 fault 50m to the northwest, while two other holes confirm wide gold zones within the CC375, CC400 and CC450 faults.

Mithril Resources (ASX:MTH) has completed the acquisition of Sun Minerals, which holds an exclusive option to acquire up to 100 per cent in the high-grade Copalquin gold-silver project in Mexico.

Historical drilling results from this project include hits of up to 17.77m at 45.16g/t gold and 118.2g/t silver from a depth of just 30.98m.

Gold producer Blackham Resources’ (ASX:BLK) drilling has also delivered some stunners, returning assays of 14.45m at 17.16g/t of gold from 18.95m, including 7.45m at 31.22g/t; and 12.4m at 7.93g/t from 31.4m.

The company believes the results increase the likelihood of transferring a large portion of its inferred resource into its mining inventory.

At Stockhead, we tell it like it is. While Blackham Resources and De Grey Mining are Stockhead advertisers, they did not sponsor this article.