The Silver Lake Resources Limited. (ASX: SLR) share price was one of the stars of the share market today, soaring 10.9% following an overnight surge in the gold price. The broader market also closed marginally higher for the day.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.2% to 5785 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.2% to 5827 points
- AUD/USD at US 76.8 cents
- Iron Ore at US$90.93 a tonne, according to the Metal Bulletin
- Gold at US$1,224.70 an ounce
- Brent oil at US$52.12 a barrel
The US Federal Reserve raised interest rates again overnight, although it seems investors were a little underwhelmed by its forecast for further rate hikes this year. That caused the Australian dollar to surge against the US greenback while it also led to a strong gain for the gold price.
Other gold miners benefited too. The Evolution Mining Ltd (ASX: EVN) share price gained 4.4%, St Barbara Ltd (ASX: SBM) rose 6.1%, Beadell Resources Ltd (ASX: BDR) gained 7% and Northern Star Resources Ltd (ASX: NST) leapt 4.9%.
Iron ore and oil were up strongly, as well. That put a rocket under the BHP Billiton Limited (ASX: BHP) share price, lifting it 3.7%, with Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) up 4.4% and 2.3%, respectively.
Meanwhile, Santos Ltd (ASX: STO) was up 5.4% and Origin Energy Ltd (ASX: ORG) lifted 3.7%.
A number of businesses didn't fare so well today. Myer Holdings Ltd (ASX: MYR) fell 5.3% after its half-year results were released. Sky Network Television Ltd (ASX: SKT) slipped 4.1%. And the Estia Health Ltd (ASX: EHE) share price dropped 3.2%.
Here are Thursday's top stories:
