MARKET WRAPS

Evening Wrap: ASX 200 notches third straight record close as overnight gold surge drives EVN, NEM and NST

The S&P/ASX 200 closed 43.8 points higher, up 0.48%.

Lead Writer and Presenter
Thu 6 Aug 2026, 17:18 AEST (1h ago)
11 min read

Mentioned

In this article

Tuesday: Record. Wednesday: Record. Thursday: Record! 🏆 The Australian share market is on fire, well the benchmark ASX 200 is — because as usual, beneath the surface, there are distinct winners and losers...

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. Also, I have detailed technical analysis on the Nasdaq Composite and the S&P/ASX 200 in today's ChartWatch.

Let’s dive in!


Today in Review

Name
Value
% Chg
Major Indices
ASX 2009,271.6
+0.48%
All Ords9,452.0
+0.49%
Small Ords3,514.1
+0.91%
All Tech3,153.7
+0.23%
Emerging Companies2,972.8
+0.72%
Currency
AUD/USD0.704
-0.24%
US Futures
S&P 5007,756.75
+0.09%
Dow Jones54,615.0
+0.22%
Nasdaq29,497.5
-0.40%
Name
Value
% Chg
Sector
Materials24,614.2
+1.11%
Health Care28,235.5
+0.81%
Financials10,127.3
+0.45%
Consumer Staples13,514.9
+0.42%
Communication Services1,662.2
+0.37%
Consumer Discretionary4,121.5
+0.21%
Information Technology1,904.3
+0.16%
Energy10,376.5
+0.15%
Industrials8,629.7
-0.03%
Utilities9,552.3
-0.39%
Real Estate3,685.4
-0.90%

ASX 200 Intraday Chart

ASX 200 Intraday Chart

Markets

The S&P/ASX 200 (XJO) finished 43.8 points higher at 9,271.6, 0.5% from its session low and 0.3% from its high. In the broader-based S&P/ASX 300 (XKO) advancers beat decliners by a solid 178 to 92.

The Gold Sub-Index (XGD) (+3.7%) delivered its second consecutive session gain above 3%, extending a two-day rally that now ranks among the sector's best since 2020. COMEX gold futures surged 3.7% overnight to US$4,314/oz before adding a further 0.25% in Asian trade, while COMEX silver futures rose 3.4% overnight before easing 0.25% to US$62.12/oz.

The tailwinds are compounding: falling oil prices ease diesel costs for gold producers even as the gold price itself climbs, and lower benchmark bond yields reduce the opportunity cost of holding non-yielding bullion. Pantoro Gold (PNR) (+10.0%), Westgold Resources (WGX) (+5.4%), Evolution Mining (EVN) (+3.8%), and Newmont (NEM) (+3.7%) all continued their sharp recovery from July's lows.

Gold Futures (Front month, back-adjusted) COMEX chart_6 Aug.png
Gold Futures (Front month, back-adjusted) COMEX chart

Materials (XMJ) (+1.1%) was today's more nuanced session — the diversified major miners were essentially flat while pure-play copper and iron ore names outperformed.

COMEX copper futures rose 1.3% overnight before easing 0.21% to US$6.713/lb in Asian trade, and copper's reset of its all-time record in both New York and London added a fundamental underpinning to the move. Capstone Copper (CSC) (+2.7%) and Sandfire Resources (SFR) (+1.0%) led, while BHP (BHP) (+0.4%) barely moved, and Rio Tinto (RIO) was flat after Glencore confirmed it would pursue an ASX secondary listing following its failed merger approach with the miner earlier this year.

Champion Iron (CIA) (+3.5%) and Fortescue (FMG) (+1.4%) led the iron ore cohort as SGX iron ore futures gained 1.4% to US$95.80/t.

ASX 200 Materials (XMJ) intraday chart_06 Aug.png
ASX 200 Materials (XMJ) intraday chart

In other commodities moves, GFEX lithium carbonate futures in China fell 1.9% to CNY 140,480/t in the Asian session — lithium stocks largely held up despite the commodity price fall, with Core Lithium (CXO) (+1.9%), Liontown Resources (LTR) (+1.9%), and Mineral Resources (MIN) (+1.8%) all advancing.

Uranium stocks gave back a portion of recent gains without a clear news catalyst — Silex Systems (SLX) (-5.3%), Bannerman Energy (BMN) (-2.9%), Deep Yellow (DYL) (-2.5%), Paladin Energy (PDN) (-1.6%), and Boss Energy (BOE) (-1.1%) were all lower.

ASX 200 Financial XFJ) intraday chart_06 Aug.png
ASX 200 Financials (XFJ) intraday chart

Financials (XFJ) (+0.4%) also advanced modestly, with two distinct catalysts providing the lift. AMP (AMP) (+6.0%) — in its biggest session in months — posted a 57% jump in first-half profit and announced a $150 million buyback. ASX Ltd (ASX) (+3.1%) and Netwealth (NWL) (+2.2%) were both firmer, while Commonwealth Bank (CBA) (+0.9%) was the major bank standout.

Health Care (XHJ) (+0.8%) continued to attract bargain hunters drawn to last year's most brutally sold-off large caps. Cochlear (COH) (+3.3%), Telix Pharmaceuticals (TLX) (+2.2%), Ramsay Health Care (RHC) (+1.8%), and CSL (CSL) (+1.3%) all advanced in what looks increasingly like a sustained sector rerating rather than a dead-cat bounce.

Energy (XEJ) (+0.1%) managed to inch fractionally positive despite ICE Brent crude futures holding near US$79.65/bbl — the sector closed 1.6% above its session lows, suggesting active buying on dips.

The session was split along familiar sub-sector lines: coal stocks led — Yancoal Australia (YAL) (+2.6%), Whitehaven Coal (WHC) (+2.5%), and New Hope Corp. (NHC) (+1.0%) — while oil and gas names were mixed, with Santos (STO) (+0.5%) advancing and Woodside Energy (WDS) (-0.2%) and Beach Energy (BPT) (-0.7%) — the latter after a 21% decline in full-year underlying profit — both easing.

Real Estate (XPJ) (-0.9%) and Utilities (XUJ) (-0.4%) were simply overlooked — on a day when mining stocks commanded investor attention, there was little appetite for bond-proxy income sectors. Goodman Group (GMG) (-1.7%), Scentre Group (SCG) (-1.3%), and Charter Hall (CHC) (-1.2%) were the laggards.


Today's best ASX Top 300 gainers

Company
Last Price
Change $
Change %
1mo %
1yr %
Brazilian Rare Earths (BRE)$4.46+$0.50+12.6%-2.4%+89.8%
Minerals 260 (MI6)$0.73+$0.07+10.6%-3.9%+534.8%
Pantoro Gold (PNR)$2.43+$0.22+10.0%+1.7%-39.1%
AMP (AMP)$2.31+$0.13+6.0%+34.7%+38.3%
Westgold Resources (WGX)$5.44+$0.28+5.4%+7.1%+97.1%
Regis Resources (RRL)$7.05+$0.35+5.2%+6.3%+62.8%
Ora Banda Mining (OBM)$1.315+$0.06+4.8%+10.5%+93.4%
Mesoblast (MSB)$2.23+$0.10+4.7%+8.3%-8.2%
Vault Minerals (VAU)$5.54+$0.24+4.5%+21.5%+110.4%
West African Resources (WAF)$3.32+$0.14+4.4%+14.1%+27.2%
Genesis Minerals (GMD)$6.72+$0.28+4.3%+6.8%+69.3%
DroneShield (DRO)$2.28+$0.09+4.1%-5.4%-44.4%
EVT (EVT)$14.41+$0.56+4.0%+13.2%-15.8%
Capricorn Metals (CMM)$14.74+$0.55+3.9%+5.1%+50.9%
Evolution Mining (EVN)$13.00+$0.48+3.8%+1.4%+74.0%
Civmec (CVL)$1.80+$0.065+3.7%-4.3%+48.1%
Newmont Corporation (NEM)$148.83+$5.31+3.7%+4.7%+44.0%
Greatland Resources (GGP)$11.53+$0.41+3.7%-2.0%+114.3%
Ramelius Resources (RMS)$3.48+$0.12+3.6%+8.4%+24.7%
Bellevue Gold (BGL)$1.455+$0.05+3.6%+9.4%+68.2%

Today's worst ASX Top 300 losers

Company
Last Price
Change $
Change %
1mo %
1yr %
Silex Systems (SLX)$4.82-$0.27-5.3%-12.5%+4.1%
EQ Resources (EQR)$0.32-$0.015-4.5%+6.7%+841.2%
Benz Mining Corp (BNZ)$3.88-$0.16-4.0%+49.2%+410.5%
SKS Technologies Group (SKS)$8.60-$0.33-3.7%+1.1%+270.7%
Regal Partners (RPL)$2.90-$0.09-3.0%-6.8%-4.9%
Heartland Group Holdings (HGH)$0.998-$0.028-2.7%-0.2%+35.7%
Macquarie Technology Group (MAQ)$63.37-$1.63-2.5%-3.0%-11.7%
Deep Yellow (DYL)$1.375-$0.035-2.5%-6.8%-11.9%
Aussie Broadband (ABB)$4.94-$0.12-2.4%+4.4%+7.4%
FDC Consolidated Holdings (FDC)$3.55-$0.08-2.2%+18.3%+18.3%
Life360 Inc (360)$28.92-$0.63-2.1%+5.3%-26.7%
Block, Inc. (XYZ)$118.42-$2.41-2.0%+4.0%+2.0%
Hansen Technologies (HSN)$4.43-$0.09-2.0%+0.9%-27.1%
Macmahon Holdings (MAH)$1.03-$0.02-1.9%+17.7%+207.5%
Generation Development Group (GDG)$4.13-$0.08-1.9%+1.7%-33.9%
Echo IQ (EIQ)$1.55-$0.03-1.9%-6.1%+675.0%
Tuas (TUA)$2.16-$0.04-1.8%-6.9%-59.9%
Gemlife Communities Group (GLF)$4.42-$0.08-1.8%-2.9%0.0%
APA Group (APA)$10.00-$0.18-1.8%+0.7%+16.6%
Goodman Group (GMG)$30.24-$0.53-1.7%-1.8%-14.7%

Chartwatch

Nasdaq Composite Index

Nasdaq Composite Index chart

Analysis

Looks like we’re starting to see some of the latent supply in 26789-27191 manifest itself in the price action (last night’s high was 26739).

Or it was simply time for the Comp to take a little breather after four of the most sensational candles you’re likely to see in a long time!

In situations like this, one must weigh the supply side signal / response against what remains of the demand side’s prior showing.

Clearly, Wednesday’s candle is modest in terms of its size, and I note that volume declined back to below average — suggesting a modest supply side motivation and engagement.

Compared to the prior four candles sheer PYPIYNI motivation (e.g., close-to-open gaps, downward pointing shadow, long white bodies!) — on elevated / above average volume — then let’s land on: the demand side remains in control of the Comp’s price. ✅

And that’s really all the Analysis we must do at this point. We knew 26789-27191 was likely going to be a challenge. Last night’s candle merely suggest that it is — but also that so far, the supply encountered is less likely to be species ending, and more likely to be a regulation pullback.

As I like to say: 🧐

The last candle is history, the next candle is a mystery! 🕯️🔮

So, anything can happen. For now, though, I Accept that the MOTN remains P ⬆️, which means my Act bit is simple.

View

I am 2/3RP on US stocks. (RP = Risk Position — it reflects my personal allowable capital allocation limit for my investments in US stocks. So 1/2RP is 50%, 2/3RP is 67% and FRP is 100%).

Key Levels

26789-27191 is the key zone of supply vs the short term trend ribbon (presently 25663-25686) is the key zone of demand.


S&P/ASX 200 (XJO)

S&P/ASX 200 (XJO) chart

Analysis

The third straight record close in a row for the Australian share market on a total return basis — not something that many of us would have thought we’d be saying just a little while ago!

Today’s gain is even more impressive when one considers that overnight leads were pretty tepid.

But that’s what momentum can do: it drags in FOMO money… and in an environment that is increasingly HOFU oriented — there’s a very good chance that prices are going to rise.

Modestly today, though, looking at the last candle.

And arguably, it’s not a huge surprise that there’s a whisp of supply around after such a run (i.e., today’s small upward pointing shadow) — but it doesn’t look very motivated, nor, considering today’s below average volume — did it arrive in size.

So, status quo. Stay the course. Steady as she goes…

Or another way to put it: No change to my portfolio RP!

View

I am FRP on Aussie stocks. (My personal allowable capital allocation limit for my investments in ASX stocks is now 100%).

Key Levels

There is no key point of supply to contend with, while demand is at 8940 and then at the short term uptrend ribbon (presently 8904-8962).

(Glossary of acronyms! Old Tin Pot (OTP): S&P/ASX 200 | MOTN: More Often Than Not | FOMO: Fear Of Missing Out | HOFU: Holding On For Upside | BTD: Buy The Dip | NUTE: No Urgency To Enter | FOHO: Fear Of Holding On | STR: Sell The Rally | RP: Risk Position | FFS: Fund Flow Shenanigans!)

***CHARTWATCH LIVE WEBINARS — NEW VIDEO DROPPED 📺🍿***

ASX 200 blasts to record, can it keep rising? Plus: Genius! How the best traders think 🧠

ChartWatch LIVE Webinar

ChartWatch LIVE Webinars – WEEKLY Wednesday's @ 12pm AEDT

Learn more about technical analysis and trend following through real case studies on ASX stocks. Australia's premier technical analyst, Carl Capolingua, shares his unique insights on stocks as requested by viewers. Ask about a company in your portfolio or anything related to trading and investing and get Carl's expert opinion.

Places are limited so >REGISTER NOW!<


Economy

TODAY

  • No major economic data releases in our time zone today...

LATER THIS WEEK

Friday

  • 10:30 USA July Non-Farm Payroll (employment) Data

    • Employment change: +88,000 forecast vs +57,000 in June

    • Unemployment Rate: 4.2% forecast, unchanged

    • Average Hourly Earnings: +0.3% m/m forecast, unchanged


Interesting Movers

Trading higher

  • Alliance Aviation Services (AQZ) $0.78
    +30.4%

    Announced yesterday after market close that it has negotiated materially revised terms for its wet lease agreement with Qantas Airways as well as a plan to align its business with the reduced fleet and flying requirements of the revised
    agreement. Was put into Trading Halt at 10:43 today... trading will remain halted pending a further announcement.

  • Brazilian Rare Earths (BRE) $4.46
    +12.6%

    No news, performance reflected general strength in the broader rare earths and critical minerals sector.

  • Rox Resources (RXL) $0.47
    +12.1%

    No news, performance reflected general strength in the broader precious metals sector.

  • Viridis Mining and Minerals (VMM) $4.10
    +12.0%

    No news, performance reflected general strength in the broader rare earths and critical minerals sector.

  • Pantoro Gold (PNR) $2.43
    +10.0%

    No news, performance reflected general strength in the broader precious metals sector.

  • Brightstar Resources (BTR) $0.43
    +8.9%

    No news, performance reflected general strength in the broader precious metals sector, possibly also an ongoing bump from presenting at the Diggers and Dealers conference in Kalgoorlie yesterday.

  • Forrestania Resources (FRS) $0.39
    +6.9%

    No news, performance reflected general strength in the broader precious metals sector. Also, announced that the Takeovers Panel made interim orders that FRS must not process any further acceptances received in relation to its takeover of Zenith Minerals (ZNC).

  • AMP (AMP) $2.31
    +6.0%

    Announced its first half FY26 results and a further $150 million buyback. Underlying NPAT increased 33% to $174 million and assets under management increased to $167.6 billion.

  • Westgold Resources (WGX) $5.44
    +5.4%

    No news, performance reflected general strength in the broader precious metals sector.

  • Vault Minerals (VAU) $5.59
    +5.4%

    No news, performance reflected general strength in the broader precious metals sector. Added to the ChartWatch ASX Uptrends List today.

  • Genesis Minerals (GMD) $6.77
    +5.1%

    No news, performance reflected general strength in the broader precious metals sector. Added to the ChartWatch ASX Uptrends List today.

  • Black Cat Syndicate (BC8) $1.05
    +5.0%

    No news, performance reflected general strength in the broader precious metals sector.

  • Ora Banda Mining (OBM) $1.32
    +4.8%

    No news, performance reflected general strength in the broader precious metals sector.

  • Evolution Mining (EVN) $13.06
    +4.3%

    No news, performance reflected general strength in the broader precious metals sector.

  • Catalyst Metals (CYL) $6.34
    +4.1%

    Presented at the Diggers and Dealers conference in Kalgoorlie.

  • REA Group (REA) $173.01
    +4.0%

    Announced its results for FY26. Core NPAT was up 15% to $650.5 million despite National Buy listings flat vs FY2025. Final dividend up 25% to $1.73, fully franked.

Trading Lower

  • Alligator Energy (AGE) $0.05
    -11.3%

    Announced a $15 million placement and $3m share purchase plan at an issue price of
    $0.045.

  • IDP Education (IEL) $2.27
    -5.4%

    No news, performance reflected prevailing short and long term downtrends. IEL is one of the most featured stocks in the ChartWatch ASX Scans Downtrends List.

  • Silex Systems (SLX) $4.82
    -5.3%

    No news, performance reflected general strength in the broader uranium sector.

  • iShares MSCI South Korea ETF (IKO) $232.04
    -4.4%

    South Korea's KOSPI index was down nearly 5% today.

  • Global X Battery Tech & Lithium ETF (ACDC) $126.53
    -4.0%

    Benchmark lithium carbonate futures contract down on China's GFEX today.

  • Deep Yellow (DYL) $1.37
    -3.0%

    No news, performance reflected general strength in the broader uranium sector.

  • Bannerman Energy (BMN) $3.35
    -2.9%

    No news, performance reflected general strength in the broader uranium sector.


Broker Moves

Company
Broker
Action
Rating
Price Target
360Life360 Inc
CitiRetained
Buy
$31.95
AISAeris Resources
MorgansRetained
Buy
$0.55
ALLAristocrat Leisure
Morgan StanleyRetained
Overweight
$63.90
AMCAmcor Plc
MacquarieRetained
Outperform
$72.00
UBSRetained
Buy
$80.00
AMPAMP
MacquarieRetained
Neutral
$1.94
ANZANZ Group Holdings
Morgan StanleyRetained
Overweight
$34.50
ARBARB Corporation
Ord MinnettRetained
Buy
$27.80
ARUArafura Rare Earths
Canaccord GenuityRetained
Speculative Buy
$0.40
BSLBlueScope Steel
UBSRetained
Buy
$37.50
CBACommonwealth Bank of Australia
Morgan StanleyRetained
Underweight
$123.50
CKFCollins Foods
CitiRetained
Neutral
$10.30
CSLCSL
Morgan StanleyRetained
Overweight
$163.00
CWYCleanaway Waste Management
UBSRetained
Buy
$3.05
DOWDowner EDI
UBSRetained
Neutral
$8.00
EDVEndeavour Group
CitiRetained
Buy
$3.25
JardenRetained
Underweight
$3.20
MacquarieRetained
Underperform
$2.70
Morgan StanleyRetained
Underweight
$3.00
Ord MinnettRetained
Lighten
$2.70
UBSRetained
Neutral
$3.50
GDFGarda Diversified Property Fund
MorgansRetained
Buy
$1.30
GMGGoodman Group
Morgan StanleyRetained
Overweight
$36.15
JHXJames Hardie Industries Plc
CitiRetained
Buy
$42.60
UBSRetained
Neutral
$40.00
LNWLight & Wonder Inc.
Bell PotterRetained
Buy
$183.00
CitiRetained
Buy
$149.00
MacquarieRetained
Outperform
$180.00
Morgan StanleyRetained
Overweight
$186.00
MorgansRetained
Buy
$174.00
Ord MinnettRetained
Buy
$217.00
UBSRetained
Buy
$210.00
MGRMirvac Group
CitiRetained
Buy
$2.00
MNDMonadelphous Group
UBSRetained
Neutral
$35.50
MQGMacquarie Group
Morgan StanleyRetained
Overweight
$273.00
NABNational Australia Bank
Morgan StanleyRetained
Underweight
$34.00
NEUNeuren Pharmaceuticals
Bell PotterRetained
Buy
$25.50
Canaccord GenuityRetained
Buy
$24.76
E&PRetained
Speculative Buy
$22.37
MacquarieRetained
Outperform
$23.00
NSTNorthern Star Resources
Ord MinnettRetained
Hold
$20.30
ORAOrora
UBSRetained
Neutral
$1.70
REHReece
UBSRetained
Sell
$14.70
RIORio Tinto
Morgan StanleyRetained
Underweight
$147.50
RWCReliance Worldwide Corporation
UBSRetained
Neutral
$3.90
SGHSGH
Bell PotterRetained
Buy
$51.00
UBSRetained
Buy
$58.00
SGMSims
UBSRetained
Buy
$35.00
SGPStockland
CitiRetained
Buy
$5.10
SIGSigma Healthcare
Morgan StanleyRetained
Overweight
$3.30
SLDSaluda Medical, Inc.
MorgansRetained
Speculative Buy
$2.94
TCLTransurban Group
MacquarieRetained
Neutral
$13.85
MorgansRetained
Trim
$12.63
TLSTelstra Group
MacquarieRetained
Neutral
$5.19
TPGTPG Telecom
MacquarieRetained
Outperform
$4.00
VNTVentia Services Group
UBSRetained
Buy
$6.80
VSLVulcan Steel
UBSRetained
Buy
$7.00
WBCWestpac Banking Corporation
Morgan StanleyRetained
Underweight
$30.50
WDSWoodside Energy Group
Morgan StanleyRetained
Equal Weight
$28.00
WEBWEB Travel Group
MacquarieRetained
Outperform
$4.00
WORWorley
UBSRetained
Buy
$16.50
XROXero
Morgan StanleyRetained
Overweight
$130.00

Scans

Top Gainers

Code
Company
Last
% Chg
CLUCluey Ltd$0.014+133.33%
SMMSomerset Minerals Ltd$0.013+44.44%
AQZAlliance Aviation Services Ltd$0.783+30.42%
VTXVertex Minerals Ltd$0.155+29.17%
L1MLightning Minerals Ltd$0.015+25.00%
View all top gainers

Top Fallers

Code
Company
Last
% Chg
CYBAucyber Ltd$0.045-27.42%
ALUAlurion Resources Ltd$0.62-27.06%
TKMTrek Metals Ltd$0.068-26.88%
BTNButn Ltd$0.012-20.00%
ICEIcetana Ltd$0.028-17.65%
View all top fallers

52 Week Highs

Code
Company
Last
% Chg
VMMViridis Mining and Minerals Ltd$4.10+12.02%
HMXHammer Metals Ltd$0.083+10.67%
CELDBChallenger Gold Ltd$2.33+9.39%
SOPSynertec Corporation Ltd$0.063+8.62%
LUXLUX Copper Corp. Ltd$0.34+7.09%
View all 52 week highs

52 Week Lows

Code
Company
Last
% Chg
ALUAlurion Resources Ltd$0.62-27.06%
ICEIcetana Ltd$0.028-17.65%
TRUTruscreen Group Ltd$0.011-12.00%
LFTLi-FT Power Ltd$2.90-11.04%
AMNAgrimin Ltd$0.046-10.78%
View all 52 week lows

Near Highs

Code
Company
Last
% Chg
GLPRiShares Ftse GBL Property Ex Aus (Aud Hedged) ETF$29.17-0.55%
RHCRamsay Health Care Ltd$43.55-0.89%
AN3PIAustralia and New Zealand Banking Group Ltd$103.45+0.24%
WVOLiShares MSCI World Ex Aust Minimum Volatility ETF$46.03+0.70%
PYCPYC Therapeutics Ltd$2.10+5.26%
View all near highs

Relative Strength Index (RSI) Oversold

Code
Company
Last
% Chg
PSCProspect Resources Ltd$0.205+2.50%
LOTLotus Resources Ltd$0.235-2.08%
IXRIonic Rare EARTHS Ltd$0.275-12.70%
KGLKGL Resources Ltd$0.165-2.94%
BBOZBetashares Aus Equities Strong Bear Complex ETF$19.40-2.07%
View all RSI oversold

ABOUT THE AUTHOR

Lead Writer and Presenter

Carl brings more than 30 years of investing experience and a track record of helping thousands of investors navigate every kind of market. A highly regarded commentator on global macro trends and their impact on Australian and US equities, he is also one of Australia's most recognised educators in technical analysis — having taught his distinctive price-action trend following methodology to two generations of investors.

06/08/2026