The S&P/ASX 200 closed flat at 9,201 on Monday, regaining record highs after earlier losses as investors flocked to gold and oil stocks amid geopolitical uncertainty. Markets reacted to US and Israeli strikes on Iran over the weekend, following Tehran’s refusal to curb its nuclear program. Tensions escalated after reports suggested the attacks killed Supreme Leader Ayatollah Ali Khamenei, prompting fears of regional retaliation. Oil stocks Woodside Energy climbed 6.8% and Santos surged 6.7%, while gold producers Newmont Corporation up 5.7%, Northern Star Resources gaining 4.8%, and Evolution Mining adding 6.6%. Meanwhile, investors digested recently released economic data. Australia’s Monthly Inflation Gauge, compiled by the Melbourne Institute, fell 0.2% month-on-month in February, reversing a 0.2% rise in January and marking the first decline since August. Additionally, ANZ-Indeed Australian Job Ads rose 3.2% in January, easing from a revised 5.2% gain in December.
