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Highlights
- ASX200 adds momentum amid calmer US tariff outlook
- Gold prices ease as investor sentiment shifts
- Ramelius (ASX:RMS) upgrades FY25 guidance on solid quarterly output
Australia’s equity market continued its steady climb, buoyed by a pause in US tariff-related concerns and a tempered gold rally. The S&P/ASX200 index rose 20.4 points, or 0.25%, reaching 8,091 by 10:30am AEST. This marks a 2.15% rise over the last five trading sessions, keeping the index nearly flat for 2025 year-to-date.
Investor sentiment was supported by developments in the US, where softer economic data didn’t dampen Wall Street's performance. Instead, it helped carry forward optimism into the Australian trading day ahead of the release of the March quarter consumer price index data.
Sector performance remained mixed. Materials slipped 0.2%, utilities edged lower by 0.13%, and energy dipped 0.1%. In contrast, industrials gained 0.14% and financials nudged higher by 0.02%. Industrials led sectoral performance for the week, adding 1.1%.
One key driver was the easing of trade tensions as the US government indicated some levies on foreign parts for cars and trucks would be lifted, and temporary relief was extended for tariffs on aluminium and steel imports. This reduced the urgency for safe-haven investments like gold, with the metal retreating to around US$3,314 (A$5,190) an ounce.
Despite the shift, analysts note that ongoing geopolitical uncertainty — especially in US-China trade dynamics — may still keep a floor under safe-haven demand.
Gold miner Ramelius Resources (ASX:RMS) was among the strongest performers, gaining 3.32% to $2.65. The company revised its FY25 production guidance to between 290,000 and 300,000 ounces, with improved cost estimates of $1,550–$1,650 per ounce. This comes after a robust March quarter output of 80,455 ounces at an all-in sustaining cost of $1,492 per ounce.
Uranium exploration firm Deep Yellow (ASX:DYL) also saw momentum, rising 3.06% to $1.18, aligning with broader interest in the clean energy thematic.
On the downside, lithium miner Liontown Resources (ASX:LTR) fell 2.63% to $0.56, while copper producer Sandfire Resources (ASX:SFR) slipped 1.95% to $10.04, reflecting commodity-specific pressures and market rotation.
The S&P/ASX200 remains a benchmark for the Australian equity landscape, encompassing the 200 largest listed companies by market capitalisation and representing about 80% of the national share market. As global economic signals continue to shift, investor attention remains focused on trade policy cues and inflation data outcomes.
