Closing Bell: Precious metals bring the sparkle as market closes flat

The ASX 200 tipped down just six points today, propped up by strong gold and record high silver prices ahead of the US Fed decision overnight.

A spike in silver prices to a new all-time high alongside another boost to gold has brought a bit of shine to an otherwise 'meh' day of trading. Pic: Getty Images

• ASX trades sideways ahead of US Fed decision overnight

• Eight of 11 sectors down, weak breadth with 121/200 stocks falling

• Materials sector propped up by gold and silver prices

ASX trades sideways

The ASX 200 is still in wait-and-see mode ahead of the US Fed meeting tomorrow morning.

The Fed will almost certainly cut interest rates by 25 basis points – that’s not in question – but markets will quail if the Federal Reserve's accompanying comments sound too hawkish.

The bourse traded in a tight sideways band throughout the day, tipping up just 0.29% at its peak and finishing down 6.5 points or 0.08%.

Eight of 11 sectors were lower. Only materials showed any real signs of life.

The resources-heavy sector was boosted by rising precious metal prices ahead of the Fed’s anticipated cut.

Source: Market Index

Source: Market Index

Silver ripped up 4.4% to a new all-time high of US$61.055 an ounce, forming a bullish pattern on the charts.

Andean Silver (ASX:ASL) surged 16.58%, Unico (ASX:USL) 13.53% and Silver Mines (ASX:SVL) 7.9%.

There were also some big movements in gold stocks after futures rose 0.4% to US$4236 an ounce.

Larvotto Resources (ASX:LRV) surged 9.22%, Challenger Gold (ASX:CEL) shot up 9.62% and Kingsgate (ASX:KCN) added 6.86%.

Diversified infrastructure and construction firm Symal (ASX:SYL) jumped 6.55% to $3.09 a share after snapping up the Timms Group and L&D Contracting in return for $28 million.

The move prompted a reaffirmed “buy” rating and a $2.4 price target from Morgans analyst Liam Schofield.

The acquisition is expected to pull in up to $8 million in EBITDA for FY26, bumping up SYL’s guidance by about 6.5%.

ASX Leaders

Today’s best performing stocks (including small caps):

Code	Name	Last	% Change	Volume	Market Cap
BRIR	Big Riv Indust	0.008	60%	27803	$36,608
FBR	FBR Ltd	0.0045	50%	10146127	$20,060,918
LRM	Lion Rock Minerals	0.036	50%	30220004	$73,534,012
IFG	Infocusgroup Hldltd	0.017	42%	2720588	$5,862,820
TEM	Tempest Minerals	0.007	40%	15218505	$5,509,381
PRM	Prominence Energy	0.004	33%	3000000	$2,667,529
QXR	Qx Resources Limited	0.004	33%	2400126	$5,527,990
VEN	Vintage Energy	0.004	33%	4382511	$6,260,741
FCT	Firstwave Cloud Tech	0.009	29%	33380992	$14,013,166
CTN	Catalina Resources	0.0025	25%	5332614	$5,726,038
IOV	Ion Video Ltd	0.0025	25%	2050000	$16,059,721
RLG	Roolife Group Ltd	0.005	25%	15161929	$7,513,982
PVL	Powerhouse Ven Ltd	0.145	21%	386375	$19,135,848
HCF	Hghighconviction	0.018	20%	9995	$291,097
ERA	Energy Resources	0.003	20%	3641274	$1,013,490,602
SKN	Skin Elements Ltd	0.006	20%	252000	$6,163,571
TRP	Tissue Repair	0.38	19%	628836	$19,348,750
SGA	Sarytogan	0.105	18%	2334435	$17,887,516
PGM	Platina Resources	0.034	17%	1258538	$18,702,980
ASL	Andean Silver	2.19	17%	2948216	$356,187,233
ALV	Alvomin	0.062	17%	6873867	$12,729,594
RGL	Riversgold	0.007	17%	3435942	$12,502,276
VRC	Volt Resources Ltd	0.007	17%	42035607	$29,840,096
ALB	Albion Resources	0.064	16%	134613	$7,820,083
CUF	Cufe Ltd	0.043	16%	2203020	$63,621,614

In the news…

Tempest Minerals (ASX:TEM) is offloading the Remorse iron deposit to Green Steel and Iron Pty Ltd in a share-based deal.

TEM will walk away with 50% of Green Steel, with plans for an IPO and development of a MidWest green iron and steel facility.

The private company was founded by one of the directors of Green Steel of WA with the explicit goal of building WA’s first ever steel making facility at the Collie Steel Mill.

Tissue Repair (ASX:TRP) fended off an ASX price query after the stock shot up 19% intraday. TRP is developing second-generation wound healing agents designed to support chronic wounds and improve outcomes following surgical procedures.

The phase 3 biotech company didn’t have much to say for itself – its quarterly report back in October was the last price-sensitive release on the ASX.

Platina Resources (ASX:PGM) picked a great day to announce its expansion into the Laverton gold district of WA, with gold prices up 0.4% overnight.

PGM acquired the Mt Morgans South gold project from Genesis Minerals (ASX:GMD), covering 14 prospecting licences and 4 exploration licences over 126.4 square kilometres.

It’s sandwiched between the Jupiter gold mine 6km to the east and the Westralia gold mine 7.5km to the northwest, which together host about 3.4 million ounces of gold. Fertile ground indeed.

ASX Laggards

Today’s worst performing stocks (including small caps):

Code	Name	Price	% Change	Volume	Market Cap
CT1	Constellation Tech	0.001	-50%	82087	$2,949,467
IMC	Immuron Limited	0.04	-33%	16668912	$19,399,254
BLZ	Blaze Minerals Ltd	0.001	-33%	278	$4,312,500
JNS	Januselectricholding	0.066	-31%	5228222	$9,011,939
TSK	Tusker Minerals	0.11	-27%	133762	$14,663,592
EG1	Evergoldminsltd	0.029	-22%	359840	$9,975,218
WYX	Western Yilgarn NL	0.028	-20%	495074	$5,506,401
BLU	Blue Energy Limited	0.004	-20%	283290	$15,059,868
OEL	Otto Energy Limited	0.004	-20%	29167	$23,975,049
PGY	Pilot Energy Ltd	0.004	-20%	1742708	$10,793,300
TYX	Tyranna Res Ltd	0.004	-20%	2333333	$16,770,762
T3D	333D Limited	0.039	-19%	546138	$9,672,983
HMI	Hiremii	0.035	-19%	507280	$7,233,731
AOA	Ausmon Resorces	0.0025	-17%	23001	$3,943,840
AYT	Austin Metals Ltd	0.005	-17%	13523117	$9,505,148
MGU	Magnum Mining & Exp	0.005	-17%	6932	$16,824,763
ANO	Advance Zinctek Ltd	1	-16%	10000	$74,235,637
BAS	Bass Oil Ltd	0.055	-15%	3316393	$20,760,148
8IH	8I Holdings Ltd	0.017	-15%	30000	$6,963,217
FDV	Frontier Digital Ltd	0.295	-14%	364081	$150,328,495
1AD	Adalta Limited	0.003	-14%	354762	$8,033,442
NOR	Norwood Systems Ltd.	0.012	-14%	1023327	$7,222,987
TSL	Titanium Sands Ltd	0.006	-14%	83539	$16,413,230
CGS	Cogstate Ltd	2.16	-14%	1344421	$430,777,412
RAU	Resouro Strategic	0.22	-14%	183051	$11,849,070

In Case You Missed It

Two drilling rigs are turning at the Van Uden gold project, with TG Metals (ASX:TG6) advancing separate but parallel programs aimed at extending the mineral resource along strike and at depth.

Aurora Labs (ASX:A3D) has fielded an initial order for 20 AU4 propulsion systems valued at $250,000 from Australian company Sovereign Propulsion Systems.

Mining approval is now in hand for Star Minerals’ (ASX:SMS) Tumblegum South project in Western Australia's Bryah Basin.

Rhythm Biosciences (ASX:RHY) looks to push its ColoSTAT blood test for bowel cancer as a new potential screening tool in England.

Orthocell (ASX:OCC) has achieved first commercial sales of its flagship peripheral nerve repair product Remplir in Hong Kong.

Belararox (ASX:BRX) will now test a shallow, epithermal target stretching 1.2km from Toro Central to Toro South.

True North Copper (ASX:TNC) has highlighted the district-scale IOCG potential in the Chumvale region of northwest Queensland.

Riversgold (ASX:RGL) has discovered a new shallow gold zone in the previously undrilled “saddle”at Northern Zone.

Hot Chili’s (ASX:HCH) Costa Fuego project in Chile continues to move toward development with fresh drilling results paving the way.

Mount Hope Mining’s (ASX:MHM) phase 2 drilling at the Mt Solitary prospect kicks off in the Cobar Basin.

Trigg Minerals (ASX:TMG) is preparing for an antimony drilling program at the Antimony Canyon project in Utah.

Austin Metals (ASX:AYT) has received firm commitments for a $3m placement to accelerate gold exploration at its namesake project near Cue, WA.

Indiana Resources (ASX:IDA) has wrapped up aircore drilling and is looking forward to new year assays at its Minos project in South Australia’s Gawler Craton.

Trading halts

Alchemy Resources (ASX:ALY) – further assay results
Great Boulder Resources (ASX:GBR) – drilling update
Iris Metals (ASX:IR1) – cap raise
St Barbara (ASX:SBM) – Simberi transaction & expansion study
Strata Minerals (ASX:SMX) – cap raise & acquisition
WIN Metals (ASX:WIN) – cap raise

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Closing Bell: Precious metals bring the sparkle as market closes flat