CAPITAL MARKETS

Strong buying of ASX resource stocks

All mining segments in demand on both positive and negative data points

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Simply put, the lower than expected US inflation numbers was good for gold stocks, while China export data enthused the market optimists that stimulus will be forthcoming.

The latter saw iron ore again on the rise in Singapore - nearly reaching US$110/t - and the former saw gold above $1961/oz.

Overall, Metals & Mining gained more than 2%.

All the best gains in the ASX mining equities space were of the golden variety, with Africa-focussed gold producer Perseus leading the way after its sell down of recent times on the Sudan misstep.

Meanwhile, with most of the action at the big end of town there wasn't a huge amount to get excited about amongst the juniors.

Corazon Mining (CZN) nearly doubled at one point on nickel potential in Canada, but there was really little else on offer given traders could make what was needed by focusing on the liquid names. 

Updated: 13-07-2023

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