Australian gold stocks rise as bullion gains, Fed hike bets fade Roushni Nair Tue, October 6, 2026 at 10:17 PM EDT 2 min read GC=F -0.43% NST.AX +3.85% RMS.AX +1.34% EVN.AX +1.87% PRU.AX +1.78% Investing.com -- Australian gold stocks rose on Wednesday, tracking gains in bullion overnight as lower expectations for an October Federal Reserve rate hike supported demand for the precious metal.
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Northern Star Resources climbed 3.3%, while Ramelius Resources gained 2%. Evolution Mining rose 1.7%, Perseus Mining added 1.6% and Genesis Minerals advanced 1.3%.
Westgold Resources gained 1.3%, while Newmont rose 0.8%. Regis Resources was an exception, falling 1.7%. The ASX All Ordinaries Gold Index rose 1.6% to 18,372.2, tracking the overnight strength in bullion.
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The moves followed a rise in gold prices in the previous session, as declining Treasury yields and fading expectations for an October Fed hike improved the backdrop for non-yielding bullion.
Spot gold rose 0.6% overnight to around $4,165 an ounce and held on to those gains in early Asian trade on Wednesday.
Traders are now pricing in less than a one-in-five chance of a Fed rate increase this month, down sharply from around 40% a week earlier. Weaker U.S. payrolls data has helped reinforce expectations that policymakers may keep rates unchanged, although the outlook remains sensitive to inflation and bond yields.
Gold has also drawn support from easing pressure on energy prices as Middle East oil supplies recover toward pre-conflict levels. However, risks remain elevated as Iran has stepped up attacks on tankers in the Strait of Hormuz, while the U.S.-Iran conflict approaches its eighth month.
The latest gains in Australian miners reflect the sensitivity of gold equities to overnight bullion moves, with investors also weighing the outlook for interest rates and the broader macroeconomic environment.
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