ASX 200 pushes higher as energy and gold stocks rebound

The Australia 200 trades 9 points (0.11%) higher at 9039 at 2.15pm AEDT.

ASX 200 gains as energy sector rallies 

The Australia 200 (ASX 200) recovered from an early dip, where it fell 43 points (0.48%) to a low of 8986.2, before buyers emerged and sent it into positive territory this afternoon.

The rebound was driven by a 3% gain in the ASX 200 energy sector after the United States (US) government announced new sanctions targeting Russia’s two largest oil producers, Rosneft and Lukoil, and nearly three dozen subsidiaries. The sanctions respond to Moscow’s 'lack of serious commitment' to ending the war in Ukraine. The news lifted crude oil prices above $60, roughly 7% above the $55.96 low earlier this week.

Further gains for crude may be harder to secure, given past sanction threats are often diluted or delayed and enforcement can be difficult.

ASX 200 stocks

Energy sector

• Ampol surged 4.3% to $31.26
• Viva Energy rose 3.16% to $1.80
• Beach Energy added 2.67% to $1.25
• Energy giant Woodside lifted 3.78% to $24.05 after confirming a strategic partnership with US gas group Williams, involving the sale of major stakes in its Louisiana liquefied natural gas (LNG) and Driftwood pipeline projects. The deal gives Williams a foothold in the Gulf Coast LNG export market while freeing capital for Woodside to focus on other projects.

Financial sector

• Buy-now-pay-later company Zip is trading 3.03% lower at $4.00, on track for a third straight session of falls despite a strong first quarter (Q1) 2026 trading update on Monday. After rising 350% from its April $1.08 low to Monday’s $4.93 high, this week’s pullback looks like a correction rather than a reversal. Buyers may step in to take advantage of the pullback in Zip’s share price just ahead of the November $3.56 high.

Gold stocks

Gold stocks have rebounded after yesterday’s sell-off, despite bullion failing to establish a firm hold above $4100.

• Regis Resources popped 2.68% to $6.14
• Northern Star Resources climbed 2.44% to $24.14
• Evolution Mining added 2.07% to $10.62
• Resolute Mining rose 1.10% to $1.14.

Technology sector

• Silex Systems is trading 11.11% higher at $8.58 after soaring to a fresh record high of $9.44 earlier in the session. Its gains came after its SILEX laser-based uranium enrichment technology, licensed to Global Laser Enrichment, hit Technology Readiness Level 6 following a successful large-scale demonstration. This paves the way for commercial deployment, with plans for a US manufacturing base and the Paducah Laser Enrichment Facility in Kentucky to boost domestic uranium enrichment for nuclear fuel, pending market and regulatory conditions.

Uranium stocks

Other uranium companies haven’t fared as well:

• Deep Yellow dropped 3.45% to $1.75
• Bannerman Energy fell 2.45% to $3.20
• Boss Resources fell 0.90% to $1.65.

ASX 200 technical analysis

After a period of consolidation in September and the first half of October, the ASX 200 pushed to record highs this month, albeit amid higher volatility.

Presuming the ASX 200 remains above a layer of short-term support at 8990 - 8970, it can extend its gains towards the next upside target at 9250, with scope to 9500 into the year-end.

Be aware that if the ASX 200 were to see a sustained break below support at 8990 - 8970, it would indicate that the recent break higher has failed.

ASX 200 daily chart

• _{Source: TradingView. The figures stated are as of 23 October 2025. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.}