FX.co ★ Australian Shares Hit Over 1-Month High

On Tuesday, the S&P/ASX 200 experienced a 0.5% increase, reaching 8,739, its highest point since mid-November, driven largely by the continued strength in commodity-linked stocks. The mining sector was at the forefront of this rise, setting a new record as the prices of iron ore and copper bolstered investor confidence. Notably, major players like BHP Group saw a 1% uptick, with Rio Tinto following closely with a 1.1% gain. Gold stocks outshined other sectors as well, thanks to a surge in bullion prices fueled by expectations of US interest rate cuts and prevailing geopolitical tensions. Newmont Corporation, for instance, advanced by 0.8%. Investors are now eagerly awaiting the release of the Reserve Bank of Australia's final policy meeting minutes for the year, which are expected later on Tuesday. These minutes could provide valuable insights into the central bank's perspective on inflation and interest rates. Given that Australian markets are scheduled to close on Thursday and Friday for the holiday season, trading activity is likely to be subdued through the year's end, with few drivers anticipated beyond the RBA minutes to influence short-term market movements.