Commodities
Gold Stocks Soar as Energy Sinks Amid Crude's Third Straight Decline
The Australian stock market was largely flat on recent news, but beneath the surface, there were significant divergences between sectors. Gold stocks saw their best winning session in four weeks as bond yields pulled back and crude oil fell for a third consecutive day.
This had a negative impact on energy stocks, which bore the brunt of the decline in crude prices. The sector was notably lower due to this downturn.
The sharp divergence between gold's strong performance and energy's poor showing highlights how movements in commodity prices and bond yields can have different effects on various sectors of the market.