S&P/ASX 200 Ends Lower as Gold, Mining Stocks Decline | All Ordinaries Movement Noted

June 23, 2025 04:52 PM AEST | By Team Kalkine Media

S&P/ASX 200 Ends Lower as Gold, Mining Stocks Decline | All Ordinaries Movement Noted — Image source: Shutterstock

Energy and Litigation Stocks Show Strength

Despite the overall market downtrend, a handful of stocks registered notable gains. Omni Bridgeway Ltd (ASX:OBL), operating in the litigation finance space, led gains on the benchmark index. Skycity Entertainment Group Ltd (ASX:SKC) also advanced, while gold miner Resolute Mining Ltd (ASX:RSG) gained traction, even as broader precious metal stocks trended lower.

These performances stood out in contrast to the declines observed in most sectors, helping offset some of the downward pressure from heavyweights in financials and mining.

Gold and Resource Stocks Drag Broader Index Lower

The decline was predominantly driven by losses in the gold and resources segment. Appen Ltd (ASX:APX) faced the steepest decline among the S&P/ASX 200 constituents. Other underperformers included Mesoblast Ltd (ASX:MSB), which has been under pressure in recent sessions, and Magellan Financial Group Ltd (ASX:MFG), which extended recent downward momentum.

The session also saw a pullback in several sub-indices, including the ASX 300 Metals & Mining and industrials, contributing to the overall market softness.

Currency and Commodities Influence Broader Market Mood

In parallel with equity movements, commodity futures saw mixed activity. Gold futures slipped in global trading, applying additional weight to local mining shares. Oil contracts, however, posted gains, offering some support to energy stocks in early trade.

Currency fluctuations were also observed, with the Australian dollar slightly adjusting against major counterparts. These shifts further influenced the trading dynamics on the local bourse.

Volatility Index Rises Amid Uneven Sentiment

Market volatility, as measured by the S&P/ASX 200 VIX index, recorded an uptick, highlighting a more defensive tone across investor positioning. With broader uncertainty in global markets, short-term swings in sentiment are expected to continue influencing daily moves on the Australian share market.

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