Sept. 30 (Bloomberg) -- Australian gold stocks advanced, led by Newcrest Mining Ltd., after prices for the precious metal resumed a one-month rally to a 17-year high.

Rio Tinto Group and BHP Billiton dropped as copper prices fell from a record, crimping earnings.

The S&P/ASX 200 Index added 1.6 points to 4673.10 as of 11:50 a.m. in Sydney. About the same number of stocks rose as fell.

The benchmark is heading for a gain this quarter of 9.3 percent, its tenth-straight quarterly gain and the longest winning streak since records began in 1992.

``We're sitting on some of the biggest gains in years, but it's hard to find good value now,'' said Rob Patterson, who manages $2 billion at Argo Investments Ltd. in Adelaide. ``The easy wins are behind us.''

New Zealand's NZSX 50 Index gained 0.2 percent to 3451.63 as of 1:50 p.m. in Wellington.

Rio Tinto, the world's third-biggest mining company, fell 61 cents, or 1 percent, to A$59.40. BHP, the world's No.1 mining company, slid 8 cents, or 0.4 percent, to A$22.40.

Copper declined 0.5 percent in New York after a rally to a record triggered sales by metal producers locking in high prices.

Newcrest, Australia's biggest gold miner, rose 39 cents, or 1.9 percent, to a record A$21.08.

Gold prices climbed 0.6 percent to $475.80 an ounce in New York as surging energy costs prompted investors to buy the precious metal as a hedge against inflation.

The S&P/ASX 200 Index's futures contract for September added 0.4 percent to 4695. The broader All Ordinaries Index added 0.1 points to 4620.60.

Quarterly Gain

Resources stocks, such as BHP and Woodside Petroleum Ltd., have led gains over the quarter amid record prices for commodities such as copper and crude oil.

Nine of the ten industry groups that make up the benchmark rose in the quarter as the Australian economy grew for a 14th year, and as companies reported earnings growth of 21.7 percent in the second half ended June 30, according to JPMorgan Case & Co.

BHP has climbed 24 percent since June 30. It expects Chinese sales to rise to between 15 and 20 percent of its revenue in five years from 12.6 percent in the year ended June 30, led by soaring iron ore demand, Chief Executive Charles ``Chip'' Goodyear said in an interview yesterday. China is the single largest customer nation for the Melbourne-based miner.

China's economy grew 9.5 percent in the first six months, helping BHP and Rio Tinto post record profits as it bought more raw materials.

Woodside Petroleum, Australia's second-biggest oil producer, gained 24 percent to a record in the quarter as oil prices rose 18 percent, peaking on Aug. 30.

Telstra Corp., the nation's biggest telephone company, has dropped 18 percent since June 30 to its lowest in more than two years. Chief Executive Sol Trujillo said on Aug. 11 that increasing rivalry and regulation may erode earnings.

The following shares also rose or fell today. The stock symbols are in brackets after the company names.

Australian stocks:

Oil producers: Crude oil prices rose 0.7 percent to $66.79 a barrel in New York amid concern that the slow pace of repairs to production platforms, drilling rigs and refineries along the Gulf of Mexico will lead to fuel shortages. Woodside added 21 cents, or 0.6 percent, to A$36.17. Santos Ltd. (STO AU), the nation's third- biggest oil producer, rose 23 cents, or 1.9 percent, to A$12.48.

Citrofresh International Ltd. (CTF AU), an Australian maker of antibacterial supplies, slumped 5 cents, or 14 percent, to 30.5 percent after resuming trading. The stock fell after the stock exchange asked the company to clarify its statement on Sept. 27 that tests by Retroscreen Virology Laboratory showed its Citrofresh bioflavonid compound is effective against four major virus types including HIV and SARS. The shares soared 155 percent that day.

Gippsland Ltd. (GIP AU), a minerals explorer, climbed 2 cents, or 17 percent, to 14 cents. The company reported ``encouraging'' results from recent exploration at its Wadi Allaqi gold project in Egypt.

Gunns Ltd. (GNS AU) slipped 2 cents, or 0.6 percent, to A$3.32. The company may be forced to scrap a planned A$1.5 billion ($1.1 billion) pulp mill in Australia's Tasmania state after Pacific National said it may end rail services, the Australian newspaper said.

New Zealand stocks:

Charlie's Group Ltd. (CHA NZ), a New Zealand fresh orange juice maker, added 1 cent, or 6.7 percent, to 16 cents. The stock has surged 21 percent since the company said Sept. 28 that it plans to buy rival juice maker Arano for NZ$4.6 million ($3.2 million) in cash and shares.

To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net

Last Updated: September 29, 2005 21:52 EDT