Australian gold stocks (ASX:AXGD) observed a rise of up to 4.3%, marking the lowest since mid-March.

If the current losses are maintained, AXGD is set to mark its worst day since the end of July.

Fallen bullion prices, driven by a robust dollar and possibilities of higher U.S.

interest rates, are influencing the sub-index’s performance.

Moreover, heavyweights of the sector such as Newcrest Mining (ASX:NCM) experienced over a 4.5% decline, reaching their lowest since the beginning of March.

Similarly, Northern Star Resources (ASX:NST) fell to its lowest level since late November, 2022, and Evolution Mining (ASX:EVN) went down by 5.2%, hitting its lowest level in half a year.

Despite these declines, the sub-index has seen a year-to-date gain of 6% as of last close.

The Australian Gold Stocks consists of shares in gold mining and production companies headquartered in Australia.