Australian Shares Rebound on Mining, Gold Stocks Gains

Australian shares rose on Thursday, driven by gains in mining and gold stocks. The S&P/ASX 200 index climbed 0.3% to 9,072.30, snapping a sixth consecutive session of losses. Mining stocks were among the biggest gainers, with BHP Group and Rio Tinto up as much as 3%.

Reserve Bank of Australia Deputy Governor Andrew Hauser warned that interest rates may need to be raised if inflation risks materialize, reiterating the central bank's hawkish stance. The RBA held its key rate at 4.35% last week and signaled further tightening is possible.

Australia's employment data for July showed a surprise decline in jobs, while the unemployment rate rose to its highest level since late 2021. However, gold stocks surged as much as 8.9% to their highest level since early March, driven by strong bullion prices.