The S&P/ASX 200 climbed 0.8% to a fresh all-time high above the key 9,000 level on Thursday, lifted by gains in gold stocks amid record-high bullion prices, while investors assessed the latest jobs data. Gold miners jumped 2.3% to new highs as bullion surged past $4,200 per ounce for the first time, driven by rising US rate cut bets and global trade tensions. Sector leaders Newmont and Northern Star advanced more than 2.5% each, while Genesis Minerals soared 6.3%. The rate-sensitive financial sector also gained 0.9%, led by top lenders ANZ (+1.1%), NAB (+0.6%), and Commonwealth Bank (+0.5%). Meanwhile, Australia’s unemployment rate rose to 4.5% in September, the highest in four years, as job gains of 14,900 missed expectations. The softer data signaled further labor market loosening, ramping up bets that the Reserve Bank may resume rate cuts as early as next month. Traders now price in a 71% chance of easing, up from 40% previously, ahead of key inflation data due in the coming weeks.
