Eight of the top 10 movers on the Australian Securities Exchange (ASX) today (28 March) are gold miners, surging higher on a fresh record price for 2025.
The energy and materials sectors helped pull the S&P/ASX 200 out of a funk to close up 13 points, or 0.16%, at 7,982 points.
The index has gained 0.64% over the past week, but is down 2.17% for the year to date.
Seven of the 11 sectors ended higher. Energy and industrials both climbed 0.56%, while materials added 0.37%.
Ramelius Resources (ASX:RMS) held onto the top spot with a 6.93% jump to $2.47, while Spartan Resources (ASX:SPR) was not far behind with a 6.3% gain to end the session at $1.94.
Regis Resources (ASX:RRL) forced its way into the top five by the closing bell with a 4.56% rally to $3.90. West African Resources (ASX:WAF) rose 4.37% to $2.39 and Evolution Mining (ASX:EVN) ended up 3.3% at $7.20.
The funds have been rejigging their investments in the gold players. Boston-based investment firm State Street Global has become a substantial backer in West African Resources with a 5.24% interest and has also raised its stake in Ramelius to 11.54%.
New York-headquartered investment firm VanEck Associates, meanwhile, sold down its stakes in Evolution Mining and Regis Resources.
Aluminium heavyweight Alcoa (ASX:AAI) fell 4.33% to $50.61, while uranium producer Paladin Energy (ASX:PDN) slumped 4.07% to $5.42.
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 Angela East at Mining.com.au
Images: ASX & iStock
