Newmont and ASX 200 gold stocks rallied on Thursday as bullion prices surged. Gold prices climbed over 3.5% to exceed US$4,700 per ounce. Renewed hopes for a peace deal between the United States and Iran reportedly drove the gains.
Newmont shares rose 2.5% on the Australian Securities Exchange during late morning trading. The S&P/ASX All Ordinaries Gold Index recorded an intraday rise of 3.5%. These movements highlight the sector's sensitivity to geopolitical developments and bullion price correlations.