Gold stocks are on a tear

Mario Tama/Getty Images

Shares in Australian gold miners are soaring.

The price of the precious metal jumped by 2.5% at the weekend after expectations increased that the Federal Reserve will delay increasing US interest rates.

Today gold is trading at $US1,245.75, more than $US30 higher than Friday.

Among the local gold miners, Northern Star is up 11.6% to $A4.735, Evolution 12.4% to $A2.26, Newcrest 10% to $A21.80 and Regis Resources 11% to $A3.275.

The general market is up about 0.5% today. The ASX 200 is at 5,346.30, up 27.41 points.

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