• Australian gold stocks fall as much as 3.7%, posting their biggest intraday pct drop since October 23

• Despite a slight uptick in gold prices in early Asia trade, bullion hovered near a more-than-one-year low, as persistent inflation concerns reinforced expectations that the US Federal Reserve could raise interest rates later this year [GOL/]

• Higher interest rates increase the opportunity cost of holding non-yielding bullion, reducing its appeal to investors

• Shares of Evolution Mining fall 2.3%, while Northern Star Resources down 3.8%

• YTD, gold sector is down over 9%

(Reporting by Shruti Agarwal in Bengaluru)