Mid-Market: S&P/ASX 200 Trading Higher; Gold Prices Touched US$2300 An Ounce

On 04 April 2024, at AEDT 11:40 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 40.20 points or 0.52%, and is currently trading at 7,822.30 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 1.44% and 1.12% in their index values.

Alumina Limited (ASX: AWC) and Arcadium Lithium Limited (ASX: LTM) are the top-gaining stocks, gaining 6.101% and 5.267% in their stock prices. On the other hand, Champion Iron Limited (ASX: CIA) and The A2 Milk Corporation Limited (ASX: A2M) are the top-losing stocks and are declining by 3.458% and 1.329% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is trading higher as gold miners led the market higher after the precious metal topped US$2300 an ounce for the first time in history.
• Gold rose to another record, extending a weeks-long rally after Federal Reserve chairman Jerome Powell reiterated that it will likely be appropriate to begin lowering interest rates “at some point this year”.
• The Dow has closed down by 0.11%, the S&P 500 up by 0.11%, and the NASDAQ ended higher by 0.23%.
• Hang Seng is down by 1.22%, and FTSE 100 is up by 0.03%.

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