ASX 200 climbs on financial and gold sector gains amid bullish trends

The Australia 200 trades 49 points (0.56%) higher at 8860 as of 2.15pm AEST.

ASX 200 momentum reflects Wall Street sentiment

The Australia 200 (ASX 200) is set for a third consecutive day of gains, marking the first time in a month, as it rallied 55 points (0.62%) to a high of 8865 this morning.

Today's rally in the ASX 200 mirrors the bullish sentiment on Wall Street, finally impacting the local bourse, which has hovered around the 8800 mark for most of the month.

ASX 200 stocks

Financial sector

The ASX 200 financial sector and its big banks led the strong performance.

• Commonwealth Bank of Australia gained 1.55% to $168.12
• National Australia Bank rose 1.42% to a new record high of $44.27
• Westpac Banking Corporation lifted 1.39% to $39.10
• Australia and New Zealand Banking Group advanced 1.20% to $33.41.

Gold stocks

Gold stocks extended their gains as gold surged to a new record high today of $3759.

• Resolute Mining soared 5% to $0.95
• Northern Star Resources lifted 2.16% to $22.90 - up over 20% for the month
• Newmont Mining gained 1.82% to $127.07
• Perseus Mining rose 1.8% to $4.76.

Materials sector

The ASX 200 materials sector hit its highest level in 12 months before encountering profit-taking as iron ore prices in Asia fell 0.84% to $105.75.

• Fortescue Metals Group fell 0.91% to $19.13, reversing from an intraday high of $19.48
• Rio Tinto gained 0.65% to $117.68, easing from an intraday high of $119.80
• BHP Group added 0.25% to $40.13, retreating from its intraday high of $40.69.

Uranium stocks

Uranium stocks continued their resurgence, driven by news that commodity trading giant Mercuria is expanding into physical uranium trading. Other key drivers include supply cuts from Kazatomprom, the world's largest uranium producer, rising demand from nuclear reactor restarts, artificial intelligence (AI) driven energy needs, and global clean energy goals.

United States (US) policies, such as banning Russian uranium imports and expanding domestic stockpiles, add upward pressure on uranium prices, as does buying from Sprott's Physical Uranium Trust.

Supported by a $300 million capital raise last week to fund the advancement of its Patterson Lake South uranium project in Canada towards a final investment decision:

• Paladin Energy surged 2.42% to $8.69
• Bannerman Energy rallied 1.90% to $3.75
• Silex Systems gained 0.92% to $6.06 - up over 46% for the month.

ASX 200 technical analysis

The heavy fall in the ASX 200 at the start of this month and the subsequent correction has helped to alleviate overbought conditions following its run of new highs in August.

If the ASX 200 remains below last week’s 8888 high, we expect the correction, targeting the 8600 to 8580 area, to continue. If this correction unfolds as anticipated, it will account for a neat 5% pullback from the 9054.5 record high, at which point fresh longs should be considered.

However, if the ASX 200 reclaims resistance at around 8880 to 8900, it would initially indicate that the correction is complete at the recent 8731 low and the uptrend has resumed.

ASX 200 daily chart

• _{Source: TradingView. The figures stated are as of 23 September 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.}