31.10.202500:58:25UTC+00Australian Shares Snap 3-Day Decline

The S&P/ASX 200 index increased by 0.4%, reaching approximately 8,920 on Friday, thus ending its three-day losing streak. This recovery was largely driven by the rise in commodity prices, which positively impacted gold stocks and miners. Gold mining companies were at the forefront as gold prices surged due to the US Federal Reserve's rate cut coupled with ongoing uncertainties surrounding the US-China trade negotiations. Notable players in this sector, Newmont and Barrick Mining, each saw an increase of over 3% in their valuations. The mining sector overall demonstrated strong performance, with industry leaders such as Rio Tinto and Lynas Rare Earths seeing their stocks rise by 0.8% and 2.1%, respectively. Financial stocks also saw an uptick, with the prominent "Big Four" banks experiencing gains ranging from 0.6% to 1.5%. Meanwhile, investors are carefully assessing the economic landscape following an agreement between the US and China to mitigate trade tensions. This agreement, finalized in South Korea, temporarily resolved a conflict concerning rare earth exports; however, analysts have pointed out that both nations have retained bargaining power for future discussions. Despite these developments, the ASX is on course for its most significant weekly decline since late March, affected by increasing predictions that the Reserve Bank of Australia will maintain interest rates in November following a stronger-than-expected inflation report.