Australian Market Gains as Mining and Gold Stocks Hit Record Highs

Commodity Price Surge Drives Market

The Australian stock market recorded a modest gain on Monday, with the S&P/ASX 200 rising 0.2% to 8,777.90. The positive movement was primarily driven by significant gains in the mining and gold sectors, which reached new record levels amid rising commodity prices.

Sector Performance

While mining and gold stocks were the key drivers, the energy sector weighed on the overall index due to declining oil prices. This sectoral divergence created a mixed performance across the market.

Market Context

The S&P/ASX 200 had previously experienced a 0.4% decline on Wednesday before the Christmas and Boxing Day market break. The recent gain marks a recovery as investors returned to the market following the holiday period.