Gold miners struggle as price edges lower

Australian-listed gold miners edged lower on Monday as the price of the precious metal touched a two-week low.

The ASX All Ordinaries gold index dropped 0.5 per cent to a two-week low and major miners followed suit.

Among the biggest decliners, Syrah Resources was down 1.6 per cent, AngloGold Ashanti was down 1.3 per cent and Evolution Mining 1.2.

Newcrest Mining and Northern Star Resources were each 0.6 per cent lower.

Gold was down 0.4 per cent trading at $1,274.9 an ounce on Monday, its lowest price since October 6, under pressure from a stronger US dollar.

The US dollar index, measuring the greenback against major currencies, was 0.2 per cent higher.


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