Why the Regis (ASX:RRL) share price is up today despite sliding gold price

The Regis Resources Limited (ASX: RRL) share price is up 3.5% at $3.77 in afternoon trading following positive results at the company’s annual general meeting (AGM).

The share price rise comes despite the gold price slipping overnight to US$1,808 per ounce.

Like all gold shares, the Regis share price is closely aligned to the price of the yellow metal. Regis shares hit their 2020 peaks (so far) in late July and early August, when gold was trading above US$2,000 per ounce.

Following today’s gains, the Regis share price remains down 12.9% year-to-date. By comparison the S&P/ASX 200 Index (ASX: XJO) is up 0.1%.

What does Regis Resources do?

Based in Perth, Regis Resources Limited is a gold producer and explorer. The company’s…