Australian gold stocks rose on Wednesday as the price of the precious metal climbed and miner Resolute Mining reported higher-than-expected production.

Gold stocks were the best performers on the S&P/ASX 200, with Resolute Mining up 4.5 per cent after the company reported 2017 full-year production at 329,834 ounces, coming in above upgraded guidance of 325,000 ounces.

The price of gold was up 0.1 per cent at $1,218.76.

St Barbara was up 2 per cent while Saracen Mineral Holdings rose 1.8 per cent. The S&P/ASX All Ordinaries Gold Index of gold-related stocks was up 1 per cent, while the S&P ASX 200 was down 0.9 per cent.

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