Major gold stocks Evolution Mining Ltd (ASX: EVN) and Newmont Corp (ASX: NEM) are sliding today despite surging gold prices.

The gold price held above US$5,300 on Monday, paring earlier gains after spiking past US$5,419. At the time of writing on Tuesday morning, the gold price has climbed another 0.58% for the day to US$5,353. This is close to the metals’ all-time high of US$5,419 recorded in late January.

The safe haven asset is now 8% higher over the past month and 84.8% higher over the past 12 months.

The uplift came after a dramatic “buy the dip” rally in US stocks drained the metal’s safe-haven momentum, according to Trading Economics.

But despite the latest rally, Evolution Mining and Newmont shares are travelling in the other…