Australia Daily Briefing

Newmont's 3.52% gain to $95.75 reflects gold's continued resilience even as risk-on equity sessions theoretically reduce safe-haven demand. The move suggests gold is trading on supply-side fundamentals and central bank reserve accumulation rather than pure fear-driven flows. For ASX mining investors, Newmont's gain provides a read-through to domestic gold producers including Evolution Mining, Northern Star, and Regis Resources — all of which correlate strongly with spot gold. Watch Thursday's USD/gold cross: a weaker dollar on Alphabet's strong earnings would push gold prices higher and extend the Newmont-led rally.

RIO Tinto's 1.91% advance to $92.28 tracks the China commodity demand read: record Chinese domestic oil and gas output signals sustained industrial activity, and base metals (iron ore, copper) benefit from that signal. For Australian investors, RIO remains the cleanest proxy for China's infrastructure and EV-battery demand cycle, with Pilbara iron ore volumes directly flowing into Chinese steel production. BHP — not in today's top movers but benefiting from the same sector tailwind — reports Q4 production in the next reporting cycle.

Paladin Energy released Q4 2026 results, opening the Australian uranium sector earnings calendar. Paladin, which resumed production at the Langer Heinrich mine in Namibia, is a key benchmark for ASX uranium investors assessing whether production ramp timelines and realized uranium prices justify current sector multiples. The US-Saudi nuclear energy pact announced Wednesday — a decades-long multibillion-dollar partnership — provides a powerful demand signal for uranium globally, potentially accelerating reactor-build programs that underpin long-term uranium contract prices.