Australian gold sub-index is up 9.6% so far this week, and is poised for the most significant weekly gain since July 14, 2023, should the trend persist.

The sub-index decreased 0.3% at 0225 GMT for the day.

Gold prices are on the right track for their largest weekly surge in five months, as they are close to a record high.

Sector giants Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) hold strong, with a 10.5% and 12.2% rise this week respectively.

However, the sub-index is still down by nearly 5% YTD as of the last closure.

Australian gold sub-index is a key influencer in the Australian financial markets, comprising multiple gold-related stocks.