In the wake of rising gold prices and sharpened concerns about political unrest in the Middle East, Australian gold stocks saw an increase of 5.1% for the week, the highest weekly gains since July.

The upheld risk sentiment adds further weight to the gold prices which also received a boost from a dip in U.S.

Treasury yields following dovish remarks by U.S.

Fed officials suggesting that interest rates may have hit a peak.

Highlighting the trend, Newcrest Mining (ASX:NCM) reported a 7.4% weekly increase, their top performance since March 24.

In addition, Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) advanced with gains of 2.6% and 3.4% respectively.

The sub-index is up 12.2% this year up until the last close.

Newcrest Mining is a leading Australian-based gold mining company.