Australian gold stocks fell up to 3% reaching their lowest level since March 20, reflecting the diminished appeal of bullion.

Gold experienced a slight ascent on Thursday, but prices remained close to the six-month low set during the previous session as both the dollar and Treasury yields remained high.

Shares of Newcrest Mining (ASX:NCM), the largest gold miner in Australia, dipped as much as 4.7% to A$24.5, hitting their lowest since March 17.

Similarly, Northern Star Resources (ASX:NST) experienced a decline, dropping up to 2.4% to A$10.22, their lowest point since August 21.

The gold stocks sub-index is set for a fourth consecutive session of losses.

As of the last close, the sub-index had risen 7.9% this year, compared to a meager 0.1% decrease in the benchmark index.

The AXGD sub-index is the tracking index for Australian gold stocks, featuring companies like Newcrest Mining and Northern Star Resources.