Gold price Crashes 15% in Historic Selloff: 5 ASX Gold Stocks to Buy on the Dip

Gold price drops 15% in a sharp selloff

Gold price just had its worst week in more than ten years. The precious metal crashed from a record high of around US$5,600 per ounce to below US$4,700—a drop of more than 15% in just two trading sessions. Silver fell even harder, plunging 30% in a single day for its worst performance since 1980.

For ASX gold investors, the selloff has been painful. Northern Star fell over 8%, Evolution Mining dropped more than 6%, and smaller miners like Genesis Minerals tumbled nearly 10%. But for those willing to look past the short-term chaos, this pullback could be a chance to buy quality gold stocks at lower prices.

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Why Gold Price Crashed- And Why It May Not Matter

The selloff started after President Trump nominated Kevin Warsh as the next Federal Reserve Chair. Warsh favours a tighter monetary policy, which strengthened the US dollar and triggered massive profit-taking.

Here’s the key point: gold is still up around 57% over the past 12 months. The crash looks dramatic, but it brought prices back to where they were just weeks ago. Christopher Forbes from CMC Markets called it a “classic air pocket after an extraordinary run” rather than a breakdown in the bull case.

Major banks remain bullish. J.P. Morgan still expects gold to reach US$5,000 per ounce by the end of 2026. Central banks continue buying gold at a steady pace, providing strong price support.

5 ASX Gold Stocks Worth Watching

1. Northern Star Resources (ASX: NST)

Australia’s largest gold producer fell over 8% but remains up more than 50% over the past year. With operations across Western Australia and Alaska, Northern Star offers scale and geographic diversification. The company carries no debt and generates strong cash flow, providing resilience through volatile periods. Production guidance sits at 1.6 to 1.7 million ounces for FY26.

2. Evolution Mining (ASX: EVN)

Evolution dropped around 6% but has delivered gains of over 150% in the past 12 months. The company paid record dividends in 2025, including a fully franked final dividend of 13 cents per share, nearly three times the prior year. Low-cost mines across Australia and Canada provide solid margins even if gold prices stay lower.

3. Regis Resources (ASX: RRL)

Regis fell about 5% to around A$8. This mid-tier producer now holds a record A$930 million in cash and bullion with no debt, with A$255 million built in the December quarter alone. The company paid a fully franked dividend of 5 cents per share, returning A$38 million to shareholders. That financial strength offers flexibility to weather any extended weakness.

4. Genesis Minerals (ASX: GMD)

Genesis tumbled nearly 10%, one of the biggest drops among gold miners. Yet the company just posted record half-year results, with expected NPAT of A$235-245 million and cash climbing above A$400 million. For risk-tolerant investors, this valuation gap between share price weakness and operational strength could present an opportunity.

5. Bellevue Gold (ASX: BGL)

Bellevue dropped about 5% to around A$1.70. The company operates one of Australia’s highest-grade gold projects, which helps protect margins when gold prices fall. Bellevue also achieved net-zero Scope 1 and 2 emissions, positioning it as a “green gold” option for ESG-focused portfolios.

The Bottom Line

Gold’s 15% crash looks scary, but the fundamentals driving the bull market remain intact. Central banks keep buying. Geopolitical risks persist. Interest rates are expected to fall.

For investors with a 12-month horizon, this pullback may prove to be a buying opportunity rather than the start of something worse. Northern Star, Evolution, and Regis offer larger-cap stability and dividends, while Genesis and Bellevue provide higher-risk growth potential.

The question isn’t whether gold will recover; history suggests it will. The question is which stocks are best positioned when it does.