Gold continued to carry out effectively by the second quarter of 2025, reaching a brand new all-time excessive of AU$5,425 per ounce on April 22.
The worth surge has occurred amid risky fairness and monetary markets for the reason that begin of the 12 months, pushed by issues over a worldwide commerce conflict and escalating geopolitical tensions within the Center East.
The rising gold value has additionally been supported by uncertainty over a looming debt disaster in the USA. Some traders have turned away from dollar-denominated haven property, similar to US Treasuries, in favour of treasured metals like gold.
What implications do these circumstances maintain for ASX-listed gold shares? Learn on to find which firms have seen the most important good points in 2025. Information for this text was retrieved on June 25, 2025, utilizing TradingView’s inventory screener, and solely firms with market capitalizations better than AU$10 million at the moment have been thought-about.
1. Forrestania Sources (ASX:FRS)
Yr-to-date achieve: 469.23 %
Market cap: AU$23.91 million
Share value: AU$0.074
Forrestania Sources is a gold, copper and lithium exploration firm with initiatives in Western Australia. Because the begin of the 12 months, the corporate has been centered on gold exploration at its Bonnie Vale and Forrestania initiatives.
Bonnie Vale lies throughout the Japanese Goldfields. The property covers an space of 75 sq. kilometres and hosts a number of zones of mineralization, together with the Ada Ann prospect. Historic drilling on the website has seen assays returned as much as 12.8 grams per tonne (g/t) gold over 4 metres.
Shares began to achieve after the corporate introduced on February 13 that it had begun follow-up drilling on the prospect and would construct on its maiden program on the website. The latest outcomes from this system have been launched on Could 9, with the corporate reporting a highlighted assay of 4.3 g/t gold over 7 metres, together with 25.6 g/t over 1 metre.
The corporate stated the outcomes confirmed some thickening of the mineralized zones at depth, including that the identified mineralization had been prolonged to the north and south, with the prospect open in all instructions.
The corporate has additionally been engaged on its Woman Lila gold prospect at its Forrestania gold-lithium venture. The prospect, positioned within the Southern Cross Greenstone Belt, has a strike size of two kilometres and a width of 700 metres. In response to the corporate web site, the deposit has an inferred useful resource of 24,000 ounces of gold from 514,000 tonnes of ore with a mean grade of 1.4 g/t gold.
On Could 12, Forrestania introduced each an upcoming drill program on the Woman Lila prospect and the corporate’s acquisition of a tenement instantly adjoining to it.
Moreover, Forrestania reported on Could 16 that metallurgical engineer David Geraghty joined the corporate board as a non-executive director. The corporate famous that he’s a extremely skilled mining government and brings a background in venture growth and operational experience.
The corporate’s share value climbed within the following weeks to reached a year-to-date excessive of AU$0.085 on Could 28.
2. Native Mineral Sources (ASX:NMR)
Yr-to-date achieve: 361.54 %
Market cap: AU$169.89 million
Share value: AU$0.18
Native Mineral Sources is a gold exploration and growth firm advancing its Charters Tower gold venture in Northeast Queensland, Australia, to manufacturing in Q3 of this 12 months. It additionally owns the Palmerville gold-copper venture in the identical state.
Native acquired Charters Tower in November 2024 for AU$18.9 million and a 2 % royalty on gold manufacturing .
The venture consists of 17 granted mining leases, one mineral growth licence, six exploration permits and one exploration allow software. The location hosts the Far Fanning and Blackjack deposits, each of which have a historic exploration background. Moreover, Blackjack is residence to a 340,000 tonne each year gold processing plant.
The corporate introduced on June 17 that it was on schedule for first gold pour at Blackjack by the top of July. At the moment, the open pit was established, dry commissioning of the plant was underway and water and air companies installations have been nearing completion. Infrastructure and floor preparation can be on observe to help the graduation of mining in Q3 2025.
As for Palmerville, Native Mineral Sources introduced June 16 that it was granted a brand new exploration allow that expanded the venture. The corporate is planning fieldwork on the venture later this 12 months.
Shares in Native Mineral Useful resource reached a year-to-date excessive of AU$0.22 on June 17.
Yr-to-date achieve: 290.91 %
Market cap: AU$42.78 million
Share value: AU$0.086
Trek Metals is an exploration firm with a number of property all through Australia, together with the extremely potential Christmas Creek venture. The property covers an space of 1,183 sq. kilometres within the Kimberley Area of Western Australia, and, in keeping with Trek, has vital district-scale potential for gold and uncommon earth components.
The corporate wholly acquired Christmas Creek as a part of its acquisition of ArcherX in October 2023. Newmont (TSX:NGT,NYSE:NEM) had beforehand earned a 75 % curiosity within the venture from ArcherX, however returned it as a part of a portfolio rebalancing.
Shares in Trek gained considerably beginning on March 17 after the corporate reported seen gold in drill chips from its 2024 exploration marketing campaign on the Martin goal. The chips got here from two beforehand reported high-grade intervals, considered one of which graded a mean of 12.66 g/t gold over 10 metres.
Trek stated it determined to fast-track drilling primarily based on this discovery, together with down-hole televiewer knowledge that confirmed a sequence of stacked veins.
Following surveying and earthworks in preparation of the following section, Trek commenced a significant drill on the website on June 4, focusing on extensions of the Martin goal whereas additionally specializing in mineralization from different targets.
The corporate adopted up with an announcement on June 25 that it had secured a further rig to enlarge the drill program for deeper exploration and to acquire extra detailed structural data.
Shares in Trek reached a year-to-date excessive of AU$0.092 on June 23.
Yr-to-date achieve: 224.56 %
Market cap: AU$86.85 million
Share value: AU$0.185
African Gold is a gold exploration firm with initiatives in Côte d’Ivoire. The corporate’s major focus in 2025 has been on the Blaffo Guetto prospect at its Didievi gold venture in Central Côte d’Ivoire.
Throughout the first half of 2025, African Gold carried out a ten,000 metre diamond drill program on the website, with the intention of upgrading its July 2024 maiden inferred useful resource of 452,000 ounces of gold from 4.93 million tonnes at a mean grade of two.9 g/t gold.
On June 23, the corporate introduced that its efforts had yielded a vital enhance to its assets, reporting an up to date inferred useful resource of 989,000 ounces from 12.4 million tonnes, with a mean grade of two.5 g/t, utilizing a cut-off grade of 0.8 g/t. The announcement added that the gold system has been primarily examined at near-surface depths of roughly 300 metres and has demonstrated mineralization open in all instructions.
African Gold has additionally been drilling at different targets at Didievi this 12 months which can be exterior the useful resource space. The corporate reported the invention of a big gold system on the Poku Development in April, and confirmed steady gold mineralisation over 600 metres on the Pranoi prospect in Could.
Along with exploration work, on March 25 African Gold introduced a strategic partnership with Montage Gold (TSX:MAU), a fellow gold firm in Côte d’Ivoire advancing its Koné gold venture in the direction of manufacturing in 2027, in addition to a personal placement for as much as AU$1.84 million with separate traders that was later upsized to AU$2.7 million.
Montage and insiders would purchase a big stake in African Gold by a share swap of two.03 million shares of Montage for 92.38 million shares in African Gold, each valued at AU$6.47 million, in addition to by a placement of 12.37 million shares to Montage insiders value AU$866,000. Following the completion of the deal on June 13, Montage holds a 17.5 % stake in African Gold.
Shares in African Gold reached a year-to-date excessive of AU$0.195 on June 26.
Yr-to-date achieve: 203.92 %
Market cap: AU$76.35 million
Share value: AU$0.145
Torque Metals is a gold exploration firm working to advance its flagship Paris gold venture in Western Australia. The property covers an space of 700 sq. kilometres close to Kalgoorlie.
In June, Torque accomplished its merger with Aston Minerals that was introduced on January 28. The mixed enterprise controls 1.75 million ounces of gold assets between Torque’s Paris venture and Aston’s Edleston gold venture in Ontario, Canada.
The corporate has spent the primary half of 2025 centered on exploration work at its Paris venture, saying the discovery of parallel lodes on March 6. The developments have been recognized by shallow drilling, with one positioned 80 metres southeast of the primary Paris deposit and the opposite,= 100 metres northwest.
Preliminary assays from the drilling returned highlighted drill samples from the southeastern lode of 4.04 g/t gold over 4 metres, which included an intersection of seven.39 g/t over 2 metres. In the meantime, the northwestern lode returned a highlighted pattern of 1.02 g/t over 7 metres.
The corporate furthered the exploration work in April by the usage of down-hole electromagnetic surveys. It reported on Could 5 that the surveys detected massive off-hole conductors “extending effectively past the present mineral useful resource estimate,” indicating potential for useful resource development. As a result of success of the surveys so far, Torque stated it plans to proceed utilizing the tactic over additional targets at its venture.
The latest announcement from the venture got here on Could 8, when the corporate reported that it had been awarded a co-funded diamond drilling grant by Western Australia’s Exploration Incentive Scheme. The corporate will obtain AU$144,500 towards drilling for gold extensions west of the identified zones.
Shares in Torque reached a year-to-date excessive of AU$0.155 on June 26.
FAQs for ASX gold shares
How one can spend money on gold on the ASX?
As Australia is a high gold-mining jurisdiction and the nation’s authorities is supportive of mining, there are many choices for investing in gold on the ASX. Between gold miners working main initiatives and gold explorers trying to find the following vital gold discovery, traders can select what sort of firm matches their danger urge for food and portfolio.
When in search of a gold firm to spend money on, be sure you do your due diligence and study in regards to the firm’s key traits, together with its management workforce, its funds and the geology of its initiatives.
How one can purchase gold shares on the ASX?
When you’ve chosen an organization or a number of firms to spend money on, you should purchase gold shares utilizing buying and selling apps with entry to ASX shares, or you may get the assistance of a inventory dealer.
How one can purchase gold ETFs on the ASX?
For traders preferring broader publicity to a sector, exchange-traded funds (ETFs) are an excellent choice, and the ASX is residence to a number of gold-focused ETFs. As a result of they’re traded on exchanges like shares, you should purchase ETFs utilizing the identical strategies described above. ASX-listed gold ETFs to contemplate embody:
- ETFS Bodily Gold (ASX:GOLD), which guarantees “low-cost entry to bodily gold through the inventory alternate” and may be redeemed for bodily gold.
- Perth Mint Gold (ASX:PMGOLD), which tracks the worldwide value of bodily gold.
- BetaShares Gold Bullion (ASX:QAU), which additionally tracks the bodily bullion value.
Don’t neglect to observe us @INN_Australia for real-time updates!
Securities Disclosure: I, Dean Belder, maintain no direct funding curiosity in any firm talked about on this article.
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