Miners, from iron ore to gold and lithium, lifted the benchmark index on the Australian stock exchange, while Magellan suffered another shocking day.
Miners lifted Australian shares on Friday, with the index ending the week 1 per cent higher in a strong 2023 start.
Shares in Magellan Financial Group dived 10.5 per cent to $8.68 in another shocking day after the fund managerStrike Energy said its bid represents a 4.2 per cent premium to The price of the precious metal was on track for a third straight weekly gain. It climbed to a six-month high on Wednesday, on aggressive buying in Asia and Europe.
The precious meta’s price has risen too much too fast, said Helima Croft, RBC head of global commodity strategy. “Gold prices may have arrived too early at prices that look more justified later in the year and into next year.”
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