In a promising turn of events, the Australian gold sub-index has seen an increase of up to 3.03%, reaching 7006.3 points, marking its highest value since mid-January.

This surge in value comes as gold traders anxiously look forward to the release of U.S.

inflation data.

Major contributors to the sub-index include Northern Star Resources (ASX:NST) which saw growth of up to 2.9% to A$14.25, while Evolution Mining also experienced an upswing in value by 2.8% to A$3.10.

Despite these gains, the sub-index has been down by 7.7% this year to date, in stark contrast to the 1.5% growth observed in the benchmark S&P/ASX 200 index.

Northern Star Resources is a global-scale Australian gold producer with world-class projects located across multiple regions.