{
  "id": 4585833,
  "title": "Australian shares flat as gold miners' losses offset gains in banks",
  "url": "https://urgent.news/2026/08/31/australian-shares-flat-as-gold-miners-losses-offset-gains-in-banks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T06:35:04.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40437205/australian-shares-flat-as-gold-miners-losses-offset-gains-in-banks"
  },
  "original_language": "en",
  "account": "Australian equities remained flat on Monday as gains in banks were counterbalanced by sharp losses in gold stocks, which plummeted following hawkish comments from US Federal Reserve Chair Kevin Warsh. The S&P/ASX 200 index hovered around 9,095.40, unchanged as of 0050 GMT. The benchmark had closed 0.6% higher on Friday. Financials, sensitive to interest rates, saw a rise of up to 1.4%, positioning the sector for its best session in nearly four weeks. The \"big four\" banks gained between 1.2% and 1.8%, while real estate stocks increased by 0.3%.\n\nConsumer price data from the previous week revealed higher-than-expected inflation, prompting investors to adjust their expectations for the Reserve Bank of Australia's September meeting, anticipating a 25-basis-point rate hike. Mining stocks, including BHP Group and Rio Tinto, experienced declines of 1.3% and 1%, respectively, as their gold exposure suffered. Gold stocks plummeted by as much as 4.2%, marking their worst session in over a month and contributing to the broader losses on the benchmark index. Bullion prices declined due to reactions to Warsh's remarks.\n\nAt the Fed's annual economic symposium in Jackson Hole, Warsh emphasized that the US central bank would need \"work to do\" if policymakers were uncertain about inflation returning to its 2% target. Mining stocks, particularly gold miners, faced significant losses, with Northern Star Resources and Evolution Mining each down over 4%. Northern Star announced the appointment of Phillip Coetzer as acting chief financial officer. Technology stocks followed, falling by 1%, mirroring the negative trend in their US counterparts.\n\nStar Entertainment experienced a decline of 3.9% after falling short of market expectations, despite reporting a reduced annual loss. In New Zealand, the S&P/NZX 50 index gained 0.3%, reaching 13,804.78.",
  "summary": "Australian equities were flat on Monday , as gains in banks were offset by sharp losses in gold stocks, which slid after US Federal Reserve Chair Kevin Warsh’s hawkish comments fuelled US rate-hike hopes and dented demand for the non-yielding metal. The S&P/ASX 200 index was largely unchanged at 9,095.40, as of 0050 GMT. The benchmark closed 0.6% higher on Friday. Rate-sensitive financials rose…",
  "key_points": [
    "Australian shares flat as gains in banks offset losses in gold stocks",
    "US Federal Reserve Chair Kevin Warsh's hawkish comments led to sharp declines in gold stocks",
    "Reserve Bank of Australia expected to raise rates by 25 basis points in September"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}