S&P/ASX 200 edges higher as gold price hits new record high of US$1,966.76 per ounce

S&P/ASX 200 (INDEXASX:XJO) is up 0.39% at 12.45 pm after lifting as high as 1.1% earlier in the day boosted by a solid lead from Wall Street where major US tech names helped lift major indices. Miners are the driving force behind the rise in the local index with gold miners particularly strong as the price of the precious metal touched another all-time record high today. The move has been driven by a demand for the safe-haven asset and also due to a weaker US dollar. Iron ore miners are also adding to the market’s gains with Fortescue Metals (ASX:FMG) up 4% and BHP Group (ASX:BHP) lifting 2.8%. Falling consumer confidence for a fifth week running hasn’t dampened the Australian Dollar which is stronger at 71.66 US cents. COVID-19 update Victoria recorded 384 new COVID-19 cases today and six deaths, after a record number of cases were announced on Monday. With more than 80 outbreaks and 764 active cases across private residential aged care facilities in Victoria, some private providers are struggling to maintain staffing levels and basic standards of care. China recorded 61 new COVID-19 cases on Monday, the highest daily figure since April, propelled by clusters in three separate regions that have sparked fears of a fresh wave. Top gainers Today’s top gainers on the ASX include Twenty Seven Co Ltd (ASX:TSC) (+20.00%), Mako Gold Ltd (ASX:MKG) (+15.38%), Moho Resources Ltd (ASX:MOH) (+16.13%), Musgrave Minerals Ltd (ASX:MGV) (+12.32%) and White Rock Minerals Ltd (ASX:WRM) (+16.67%). Proactive news headlines: Musgrave Minerals surges after bonanza-grade hits of up to 3 metres at 884.7 g/t at Starlight Musgrave Minerals Ltd (ASX:MGV) has surged after returning bonanza-grade results of up to 3 metres at 884.7 g/t gold from 5 metres at the Starlight discovery of Break of Day within the flagship Cue Gold Project in Western Australia’s Murchison district. Moho Resources at new high on completing 70% earn-in of gold tenement at Burracoppin Moho Resources Ltd (ASX:MOH) has completed its commitment of a farm-in and joint venture agreement with IGO Ltd (ASX:IGO) to earn a 70% interest in E70/4688, which is part of the company’s Burracoppin Gold Project in Western Australia. Alice Queen has diamond drill spinning adjacent to Boda porphyry copper-gold discovery Alice Queen Ltd (ASX:AQX) has broken ground at Boda East prospect in the prolific Lachlan Fold Belt of NSW with a maiden diamond drilling program of three holes for 2,100 metres. Bryah Resources kicks off manganese drilling program at Bryah Basin JV Bryah Resources Ltd (ASX:BYH) has started a new program of manganese drilling at its Byrah Basin Manganese Joint Venture Project in Western Australia's Mid-West. Legend Mining identifies strong offhole conductor at Mawson nickel-copper sulphides discovery Legend Mining Limited (ASX:LEG) has identified a strong offhole conductor at Mawson nickel-copper sulphides discovery on WA’s Fraser Range which managing director Mark Wilson describes as another “exciting development”.