The S&P/ASX 200 rose 0.4% to around 8,920 on Friday, snapping its three-session losing streak, buoyed by gains in gold stocks and miners on higher commodity prices. Gold miners led the charge as bullion rises on the US Fed rate cut and uncertainty over the US-China trade deal. Sector leaders Newmont and Barrick Mining climbed over 3% each. Additionally, heavyweight miners extended gains, led by mining giants Rio Tinto and Lynas Rare Earths, up 0.8% and 2.1%, respectively. Financials also advanced, with the “Big Four” banks rising between 0.6% and 1.5%. Investors continued to weigh the economic outlook after US and China agreed to ease trade tensions. The truce, reached in South Korea, paused a dispute over rare earth exports, though analysts noted both sides are keeping leverage for future talks. For the week, the ASX is on track for its sharpest drop since late March, weighed by growing bets that the RBA will hold rates in November amid a surprisingly strong inflation report.
