ASX deeply in the red

DESPITE strength in base metals overnight, miners joined the rest of the market in negative territory.

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The ASX 200 dropped by almost 0.9%, with mining and energy stocks the biggest drags.

The Diversified Metals & Mining and Gold sub-sectors were each down by 1.5%.

The spot gold price fell further during Australian trade to US$1336 an ounce.

The Australian dollar gold price was at A$1654.75/oz.

Evolution Mining was the only winner in the ASX gold space after releasing another impressive quarterly report which included record low all-in sustaining costs, cashflow of more than $200 million and lower gearing.

Shares in Evolution were up by 0.4% to $2.77.

In the base metals space, OZ Minerals and Sandfire Resources were also p...

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