While the ASX finished January up 1.8%, the sharemarket couldn’t maintain its momentum late into the week. Friday’s sharp fall was led by gold miner declines after markets reacted to Trump’s endorsement of the next Federal Reserve Chair.
After reaching record highs earlier this month, gold prices fell 5% to around $US5200 an ounce falling from highs this year at $US5300. The fall in gold prices triggered profit-taking across the market. Despite the late sell-off, January closed positively, though volatility is beginning to creep back into markets as global macro and US policy expectations drive investor sentiment.
ASX Movers by the Numbers:
The week’s best performers on the ASX 200 include:
Santos Limited (ASX:STO) +8.51%
Reece Limited (ASX:REH) +7.87%
ASX Limited (ASX:ASX) +6.43%
In contrast, the worst performers on the ASX 200:
DroneShield Limited (ASX:DRO) -25.73%
Iluka Resources Limited (ASX:ILU) -22.99%
4DMedical Limited (ASX:4DX) -21.73%
