ASX rises as gold miners rally

The Australian sharemarket climbed at the open, led by gains in the major banks and gold miners after the precious metal rallied following a run of declines in the commodity price.
The benchmark S&P/ASX 200 Index added 0.6 per cent, or 51.5 points to 8937 at the start of trade, with eight of the 11 sectors in the green.
On the local bourse, the materials sector increased, tracking a higher gold price after it fell 5 per cent over the previous four sessions. Bullion rose as much as 2.5 per cent as traders digested the outcome of a meeting between US President Donald Trump and Chinese leader Xi Jinping.
Trump said it was an "amazing meeting" and that China would halt rare earth controls and resume purchases of American soybeans. Xi said his country is willing to cooperate with the US in areas such as trade, energy and artificial intelligence, according to Xinhua News Agency.
Gold producers were among the best performers on the ASX 200. Westgold added 4.4 per cent, Newmont 4 per cent, Bellevue Gold 3.9 per cent and Evolution 3.1 per cent.
All the major banks were in the green, with index heavyweight Commonwealth Bank up 1.2 per cent.
ANZ's upcoming full-year results will be impacted by major changes under new boss Nuno Matos - with several significant items resulting in an after tax change of $1.1 billion while the acquisition of Suncorp Bank will boost goodwill by $141 million. Shares were 0.4 per cent higher.
Overnight on Wall Street, Facebook parent Meta slumped, dragging down most of the magnificent seven mega-cap technology stocks, the S&P 500 Index and the Nasdaq Composite. The Dow slipped. Meta was 11.3 per cent lower. The drop came after it tipped plans to invest significantly more than expected into artificial intelligence.
Shares in Apple rose more than 4 per cent after it reported a record September quarter.
Amazon Web Services posted revenue of $US33 billion ($50.4 billion), an increase of 20 per cent from the prior year and the biggest year-on-year rise since the end of 2022. The shares jumped about 10 per cent in extended trading after closing at $US222.86 on Thursday (Friday AEDT ).
Atlassian shares surged 12 per cent in after-hours trading in New York. That came after the company reported quarterly cloud revenue rose 26 per cent to $US998 million.

Sumber : AFR