The S&P/ASX 200 rose 0.5% to 8,739 on Tuesday, marking its highest level since mid-November, as strength in commodity-linked stocks continued to underpin the market. Mining stocks led the gains, hitting a fresh record as firmer iron ore and copper prices boosted investor sentiment. Heavyweights BHP Group rose 1%, while Rio Tinto added 1.1%. Gold stocks also outperformed after bullion prices reached a new peak amid US interest rate cut bets and ongoing geopolitical risks, with Newmont Corporation advancing 0.8%. Investors now turn their attention to the release of minutes from the Reserve Bank of Australia’s final policy meeting of the year, due later on Tuesday, for further insight into the central bank’s outlook on inflation and interest rates. With Australian markets set to close on Thursday and Friday for the holiday period, trading activity is expected to remain muted through the end of the year, with limited catalysts beyond the RBA minutes likely to drive near-term market moves.
