Evening Wrap: ASX 200 gains on surging gold, silver and uranium stocks as VEA, WDS falter

The S&P/ASX 200 closed 37.4 points higher, up 0.43%.

Gold and Resources stocks in general stole the show today, and although not technically “resources” (but part of the Energy sector), uranium stocks also put in a very strong showing.

Be sure to click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key economic data in tonight's Evening Wrap.

Let's dive in!

Markets

ASX 200 Session Chart

The S&P/ASX 200 (XJO) finished 37.4 points higher at 8,810.9, 0.4% from its session high/low – smack–bang at the mid-point of the session's range. Reflecting the indecision in the intraday price action, but at odds with the benchmark’s gain, in the broader-based S&P/ASX 300 (XKO) advancers lagged decliners by a narrow 136 to 141.

Gold (XGD) (+6.7%) and Resources (XJR) (+2.6%) stocks in general stole the show today, and although not technically “resources” (but part of the Energy (XEJ) (-0.7%) sector), uranium stocks also put in a very strong showing.

Gold and silver stocks were rampant today, with many smalls stacking on double digit percentage gains and in the mid-to-bigs, gains of +5% were not uncommon. Check the Biggest Gainers list below for more details on these… 👇

The reason for the sector’s strength was another turn higher in the prices of both precious metals on Friday night, as well as their continued strength in Asian trade so far today. I have full technical analysis of both in my new ChartWatch Markets series launched today (there are some changes to Evening Wrap ChartWatch as you’ll see below!)

Uranium prices also ticked higher on Friday, and yep – check that last link for full TA there, too. I note strong performances in Nexgen Energy (NXG) (+5.7%), Bannerman Energy (BMN) (+5.1%), and Paladin Energy (PDN) (+4.7%).

The rest? Much of a muchness, really. Interest rate sensitives were a touch weaker on rising local and US benchmark yields Friday / into today… Real Estate (XPJ) (-0.7%) was the worst, with Consumer Discretionary (XDJ) (-0.2%), and Financials (XFJ) (-0.2%) also slipping modestly.

C-suite changes at Viva Energy Group (VEA) (-8.1%) were not appreciated by investors, and along with another drop in sector leader Woodside (WDS) (-1.0%), they largely explained Energy’s poor performance – despite those aforementioned uranium heroics plus a small bounce in Santos (STO) (+0.4%).

Today's best blue chip gainers

Today's worst blue chip losers

ChartWatch

📈🚫

Oops... Where's the Comp analysis? 🤷

Introducing the *NEW ChartWatch Markets* Series 💪💪💪.

All Comp analysis lives there from now on! But that's not a bad thing, it means the Comp and other global markets can be covered earlier in the day. Don't worry, the best technical analysis of the Old Tin Pot you'll find anywhere will still live right here in the Evening Wrap 👇!

S&P/ASX 200 (XJO)

S&P/ASX 200 chart (click here for full size image)

Upward pointing shadows much? 🤔

The last 4 candles are: ⬛, ⬛, ⬆️shadow, ⬆️shadow.

What does that tell us about the demand-side's control / ability to make headway on those last two candles – and over all 4 – the supply-side’s resolve / motivation? ⚠️

On the first point, over the last two very modest up-candles (in the face of very positive US leads) the demand-side achieved very little – even at the best point of each respective trading session. The demand-side simply didn’t have the guts to withstand the supply-side’s intraday challenge (although today was slightly better than yesterday).

It’s a bit fishy if you get my drift... Something’s not right here… And particularly considering the abovementioned price action continues to fester after “that candle” – i.e., the supply-side’s stamping of its authority on 3-Sep.

Broadening our analysis to price action and trends, and they’re not much better – with peaks and troughs contracting within a tight range between 8731-8881, the short term neutralised, and with the long term uptrend beginning to flatten.

It’s not a write-off, it’s just looking increasingly like equilibrium. We must continue to back the longer term uptrend in this transitionary stage – at least until we have incontrovertible evidence that the supply-side is in control of both the short and long term price dynamics (don't worry, that’s a long way off... think the price closing below long term trend ribbon + the long term trend ribbon is neutral at least!).

In the meantime, I think there’s enough short term uncertainty here to warrant my personal risk management setting of 2/3RP. You do it your way of course!

At least we have some key boundaries in close proximity:

• A close above 8881 demonstrates the demand-side has regained control of the price = Bullish 🐂

• A close below 8731 demonstrates the supply-side has gained decisive control of the price = Bearish 🐻

Economy

Today

• CHN Loan Prim Rate (LPR)

  • 1-year LPR: Unchanged at 3.0% p.a. as forecast.

  • 5-year LPR: Unchanged at 3.5% p.a. as forecast.

Later this week

Tuesday

• 09:00 AUS September Purchasing Managers Index (PMI)

  • Manufacturing: vs August 53.0

  • Services: vs August 55.8

• 17:30 Eurozone Various September PMI's

  • GER Manufacturing: 50.0 forecast vs August 48.8

  • GER Services: 49.5 forecast vs August 49.3

  • EUR Manufacturing: 50.7 forecast vs August 50.7

  • EUR Services: 50.6 forecast vs August 50.5

• 23:45 USA September PMI's

  • Manufacturing: 51.8 forecast vs August 53.0

  • Services: 53.8 forecast vs August 54.5

Wednesday

• 02:35 USA US Federal Reserve Chairman Jerome Powell speaks

• 11:30 AUS August Consumer Price Index (CPI) (+2.9% p.a. forecast vs July +2.8% p.a.)

Thursday

• 00:00 USA August New Home Sales (651,000 forecast vs July 652,000)

• 22:30 USA August Core Durable Goods (-0.2% m/m vs July +1.0% m/m)

Friday

• 00:00 USA August Existing Home Sales (3.96 million forecast vs July 4.01 million)

• 22:30 USA August Personal Consumption Expenditures (PCE)

  • Price Index: +0.2% m/m vs July +0.3% m/m

  • Personal Income: +0.3% m/m vs July +0.4% m/m

  • Personal Spending: +0.5% m/m vs July +0.5% m/m

Latest News

Interesting Movers

Trading higher

• +12.6% Island Pharmaceuticals (ILA) – No news, rise is consistent with prevailing short and long term uptrends, a recent regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +12.5% Peninsula Energy (PEN) – No news, general strength across the broader Uranium sector today.

• +12.3% Energy Transition Minerals (ETM) – No news, general strength across the broader Critical Minerals sector today.

• +11.6% Greatland Gold (GGP) – No news, general strength across the broader Precious Metals sector today.

• +11.4% Investigator Resources (IVR) – 2025 Annual Report, general strength across the broader Precious Metals sector today.

• +10.9% Carnaby Resources (CNB) – Game Changer-1st Trek 1 Exploration Hole Hits 7m @ 9.3% CuEq, general strength across the broader Precious Metals sector today.

• +10.7% Electro Optic Systems (EOS) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +10.1% Vertex Minerals (VTX) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +10.0% Omega Oil & Gas (OMA) – Omega Raises A$46.0 million To Fund Growth After Huge Demand, rise is consistent with prevailing short and long term uptrends 🔎📈

• +9.8% Barton Gold (BGD) – Barton Gold Joins S&P Dow Jones ASX All Ordinaries Index, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +9.8% West Coast Silver (WCE) – 2025 Annual Report, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +9.4% Dateline Resources (DTR) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +9.1% Firefly Metals (FFM) – No news, general strength across the broader Base/Precious Metals sector today.

• +9.1% Aurelia Metals (AMI) – No news, general strength across the broader Base/Precious Metals sector today.

• +8.9% Regis Resources (RRL) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +8.8% Perseus Mining (PRU) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +8.5% Alkane Resources (ALK) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +8.4% Brightstar Resources (BTR) – Mining Approvals Received for Lord Byron Open Pit Mine, general strength across the broader Precious Metals sector today.

• +8.3% Warriedar Resources (WA8) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +8.2% Northern Star Resources (NST) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +8.1% Mithril Resources (MTH) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +7.9% Unico Silver (USL) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +7.8% Global X Uranium ETF (ATOM) – No news, general strength across the broader Uranium sector today, Uranium stocks ETF.

• +7.7% Resolute Mining (RSG) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +7.5% Pantoro (PNR) – Annual Mineral Resource and Ore Reserve Statement, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +7.2% Santana Minerals (SMI) – Rise and Shine potentially much bigger, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +7.1% Silver Mines (SVL) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a recent regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +6.8% Catalyst Metals (CYL) – Catalyst nominates Director to join Kaiser Reef Board, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a recent regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +6.8% Boss Energy (BOE) – No news, general strength across the broader Uranium sector today.

• +6.7% SKS Technologies Group (SKS) – Defence and Data Centres Drive NT Expansion, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +6.6% Capricorn Metals (CMM) – No news, general strength across the broader Precious Metals sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +6.5% DUG Technology (DUG) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +6.3% Evolution Mining (EVN) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +6.0% Westgold Resources (WGX) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +6.0% Polymetals Resources (POL) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.8% Vaneck Gold Miners ETF (GDX) – Changes to Reference Index methodology, general strength across the broader Precious Metals sector today, Gold stocks ETF, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.7% Nexgen Energy (NXG) – No news, general strength across the broader Uranium sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.4% Ramelius Resources (RMS) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.2% Kingsgate Consolidated (KCN) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.1% Bannerman Energy (BMN) – No news, general strength across the broader Uranium sector today, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.1% Catapult Group International (CAT) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.0% Kinatico (KYP) – No news, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +4.7% Paladin Energy (PDN) – No news, general strength across the broader Uranium sector today.

Trading lower

• -26.2% Regis Healthcare (REG) – Funding Update and FY26 EBITDA Outlook.

• -9.3% Focus Minerals (FML) – No news, pulled back in the wake of recent sharp rally.

• -9.1% Torque Metals (TOR) – No news.

• -9.0% 4DMEDICAL (4DX) – No news, pulled back in the wake of recent sharp rally.

• -8.1% Viva Energy Group (VEA) – Convenience and Mobility senior leadership changes, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉

Broker Moves

The a2 Milk Company (A2M)

• Retained at buy at Citi; Price Target: $9.29

Alcoa Corporation (AAI)

• Retained at neutral at UBS; Price Target: $52.00 from $50.00

BHP Group (BHP)

• Retained at neutral at UBS; Price Target: $43.00 from $42.00

Boss Energy (BOE)

• Retained at underweight at Morgan Stanley; Price Target: $1.65

• Retained at neutral at UBS; Price Target: $2.10 from $2.00

Chalice Mining (CHN)

• Retained at neutral at UBS; Price Target: $1.85 from $1.70

Coronado Global Resources Inc (CRN)

• Retained at sell at UBS; Price Target: $0.26

Deterra Royalties (DRR)

• Retained at neutral at UBS; Price Target: $4.25 from $3.70

Evolution Mining (EVN)

• Retained at sell at UBS; Price Target: $7.90 from $7.40

Fortescue (FMG)

• Retained at overweight at Morgan Stanley; Price Target: $19.90

• Upgraded to neutral from sell at UBS; Price Target: $19.40 from $17.90

Genesis Minerals (GMD)

• Retained at buy at UBS; Price Target: $6.50 from $5.65

GPT Group (GPT)

• Retained at outperform at Macquarie; Price Target: $5.67 from $5.77

Infratil (IFT)

• Retained at buy at Citi; Price Target: $14.10

Iluka Resources (ILU)

• Retained at overweight at Morgan Stanley; Price Target: $6.40

• Retained at neutral at UBS; Price Target: $5.45

James Hardie Industries Plc (JHX)

• Retained at neutral at Citi; Price Target: $33.00 from $35.00

Lunnon Metals (LM8)

• Retained at buy at Shaw and Partners; Price Target: $0.80 from $0.75

Lynas Rare Earths (LYC)

• Retained at neutral at UBS; Price Target: $15.10

Mineral Resources (MIN)

• Retained at overweight at Morgan Stanley; Price Target: $41.50

• Downgraded to neutral from buy at UBS; Price Target: $43.20 from $40.40

Megaport (MP1)

• Upgraded to outperform from sector perform at RBC Capital Markets; Price Target: $18.00 from $15.00

Macquarie Group (MQG)

• Retained at neutral at Citi; Price Target: $200.00

Newmont Corporation (NEM)

• Retained at buy at UBS; Price Target: $140.00 from $110.00

Nickel Industries (NIC)

• Retained at buy at UBS; Price Target: $0.95

Northern Star Resources (NST)

• Retained at neutral at UBS; Price Target: $21.10 from $19.95

Peninsula Energy (PEN)

• Upgraded to buy from hold at Shaw and Partners; Price Target: $1.33 from $1.00

Pilbara Minerals (PLS)

• Retained at overweight at Morgan Stanley; Price Target: $2.30

PMET Resources Inc (PMT)

• Retained at speculative buy at Canaccord Genuity; Price Target: $0.65

Premier Investments (PMV)

• Retained at buy at UBS; Price Target: $24.00

Perseus Mining (PRU)

• Retained at buy at UBS; Price Target: $5.10 from $4.75

Rio Tinto (RIO)

• Retained at equal-weight at Morgan Stanley; Price Target: $121.00

• Retained at neutral at UBS; Price Target: $120.00 from $115.00

Regis Resources (RRL)

• Downgraded to sell from neutral at UBS; Price Target: $5.40 from $4.55

South32 (S32)

• Retained at overweight at Morgan Stanley; Price Target: $3.30

• Retained at neutral at UBS; Price Target: $2.85 from $2.75

Sandfire Resources (SFR)

• Retained at neutral at UBS; Price Target: $13.10

Sigma Healthcare (SIG)

• Initiated at overweight at JPMorgan; Price Target: $3.30

Santana Minerals (SMI)

• Retained at outperform at RBC Capital Markets; Price Target: $0.90

Santos (STO)

• Retained at outperform at CLSA; Price Target: $9.35

• Retained at outperform at Macquarie; Price Target: $8.55

• Upgraded to outperform from sector perform at RBC Capital Markets; Price Target: $7.75

Sayona Mining (SYA)

• Retained at buy at Canaccord Genuity; Price Target: $9.00

Telstra Group (TLS)

• Retained at outperform at Macquarie; Price Target: $5.04

TPG Telecom (TPG)

• Retained at outperform at Macquarie; Price Target: $5.60

Vault Minerals (VAU)

• Retained at buy at UBS; Price Target: $0.75 from $0.60

Viva Energy Group (VEA)

• Retained at positive at E&P; Price Target: $2.40

Vulcan Energy Resources (VUL)

• Retained at speculative buy at Canaccord Genuity; Price Target: $9.75

WEB Travel Group (WEB)

• Retained at buy at Citi; Price Target: $5.50 from $6.60

Whitehaven Coal (WHC)

• Retained at neutral at UBS; Price Target: $6.95 from $7.15

Scans