With gold and iron ore on the rise, the Australian Securities Exchange (ASX) has gained 41.1 points this morning (17 July), jumping 0.48% since yesterday’s fall to a total of 8,602.9 points as of 10.40am (AEST).
The US market is marking a turnaround return at 6,263.7 points on the S&P 500 today after Wall Street’s weak lead expecting a rise of tariff inflation from President Donald Trump. Amid a wavering platform, the S&P 500 has seen a 0.95% monthly return.
The price of iron ore has reached over the US$100 mark for the first time since May this year, with the spot price currently at US$97.06 per tonne according to Trading Economics.
This figure represents a 0.58% increase today and a weekly increase of 1.83%.
Still seeing the heights from trade uncertainty and geopolitical tensions, gold is spotting at $5,140.89 per ounce today, mostly inclining this week as reported by the ABC Bullion..
The materials sector is higher with the S&P/ASX200 increasing 0.9% today, with Iluka Resources (ASX:ILU) just making the top five gains.
The company has seen a 3.28% rise in value to a share price of $5.04 after a change of substantial holding yesterday with a 90 day average volume increase of 732%.
Meanwhile, Liontown Resources (ASX:LTR) is charging the declines, dropping 3.03% to a trading price of $0.8.
PLS (ASX:PLS) is following closely behind, representing a 2.59% decrease to a price of $1.5.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market.
The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Maddison Elliott at Mining.com.au
Images: Australian Securities Exchange
