Asian stocks were trying to get into a festive mood on Wednesday and managed small gains, with even Japan’s Nikkei lifting off a two-month low it hit following the Bank of Japan’s surprise decision to loosen its tight leash on government bond yields.
The resultant drop for the U.S. dollar has spot gold prices testing six-month peaks and gold miners riding high. Newcrest (NCM.AX) rose 6% in Sydney and smaller names even more. Global miners BHP (BHP.AX) and Rio Tinto (RIO.AX) rose 2%.
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