The S&P/ASX 200 index rose by 0.58% to 8,730.9 points today, with gold producers Redcastle Resources (ASX:RC1) and Terra Metals (ASX:TM1) among the high-performing stocks.
Redcastle’s share price increased by 15.63% to $0.185, while Terra rose 9.09% to $0.3 per unit in the first hour of trading on the Australian Securities Exchange.
Riversgold (ASX:RGL) soared by 7.14% to $0.015, while EMC Gold Corporation (ASX:EM3) also jumped by 5% to $0.21 per unit.
The index had earlier recovered for the first time on 1 May, ending an 11-day losing streak. After a 0.29% decline between 20 and 21 April, it dropped a further 0.44%–0.45% from 22 to 23 April. A 0.29% fall on 24 April was followed by a sharper slump of 0.62% on 27 April, taking the index to 8,732.1 points. Losses continued on 28 April (–0.74% to 8,701.1), 29 April (–0.47% to 8,670), and 30 April (–0.4% to 8,652.1 points).
“Over the last five days, the index has gained 0.51% but is virtually unchanged year to date,” the ASX markets website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” during 2025, despite “concerns about the state of the world”.
“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts agree that it has been a “soft week” of underperforming shares.
“One side of it is quite domestic in nature, the other side of it is obviously markets discounting potential growth risks because of the war in the Middle East,” Capital.com senior market analyst Kyle Rodda tells the Australian Associated Press.
“Overall, we are underperforming and certainly not duplicating the record highs that we have seen clocked up on Wall Street,” he adds, according to the newswire agency.
Write to Richard Szabo at Mining.com.au
Images: Marcus Reubenstein via Unsplash
