The ASX200 has been up 0.7% at 8,340 points in afternoon trade.
The Gold price has climbed to fresh record highs as investors seek refuge in the safe haven, in the wake of escalating conflict in the Middle East. Gold has been US$2,723 per ounce and is up 30% for the year, making it the strongest performing commodity.
Materials and Health Care have been the best performing sectors, up 1%, followed by Energy and Discretionary, up 0.8%. IT is the one and only sector in the red and has been down 2.6%.
Company News
Critical Minerals play OzAurum Resources (ASX:OZM) are getting ready to play in the niobium space after identifying a new niobium anomaly at its 100%-owned Salitre Project in Brazil. The anomaly spans a strike length of 1 kilometre with peak niobium values reaching 190 ppm.
OzAurum Resources has been 3.9 cents.
Loyal Lithium (ASX:LLI) has been up 11.5% on news of a groundbreaking 3D geophysics resistivity inversion model for the Trieste Lithium Project in Quebec, Canada. This 3D model reveals significant inferred extensions of known lithium pegmatites hosted within metasediments.
Loyal Lithium has been 14.5 cents.
Mineral Resources’ (ASX:MIN) has been down 11% after its board threw its support behind Chris Ellison following allegations he has evaded tax for years.
Mineral Resources has been $40.80.
Strike Energy (ASX:STX) has been up 9.5% and is the most hotly watched stock on HotCopper today. The company has updated its Erregulla Deep-1 well production test results and reported “extremely high” flowing pressures.
Strike Energy has been 23 cents.