2025.10.2001:13:48UTC+00Aussie Stocks Kick Off the Week Lower

On Monday, the S&P/ASX 200 index experienced a 0.2% decline, closing at 8,976, as it retracted gains made the previous week. This downturn was primarily driven by steep falls in gold and other mining stocks. In particular, gold stocks experienced their most significant drop in a week, plunging by 5.2%, thereby ending a five-session winning streak. A stronger US dollar, combined with President Donald Trump's remarks on the unsustainable nature of an all-out trade war with China, diminished demand for safe-haven metals. Among the hardest hit were Evolution Mining, which plummeted 5.4%, Northern Star Resources, decreasing by nearly 4%, and Newmont Corporation, which fell close to 6%. Iron ore miners also saw losses amid decreasing underlying prices, with BHP Group declining 1.6%, Rio Tinto dropping 0.8%, and Fortescue Metals sliding 0.9%. On the monetary front, expectations of an imminent rate cut by the Reserve Bank of Australia (RBA) have intensified due to an unexpected rise in the unemployment rate. Investors are closely monitoring the upcoming flash PMI data and speeches from RBA officials later in the week for further insights into potential policy shifts.