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Australian gold stocks slip as bullion lingers near one-year low

By Reuters News

** Australian gold stocks .AXGD fall as much as 3.7%, posting their biggest intraday pct drop since October 23

** Despite a slight uptick in gold prices in early Asia trade, bullion hovered near a more-than-one-year low, as persistent inflation concerns reinforced expectations that the US Federal Reserve could raise interest rates later this year GOL/

** Higher interest rates increase the opportunity cost of holding non-yielding bullion, reducing its appeal to investors

** Shares of Evolution Mining EVN.AX fall 2.3%, while Northern Star Resources NST.AX down 3.8%

** YTD, gold sector is down over 9%

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