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Australian shares opened lower on Monday, dragged down by gold miners after prices for the bullion plummeted.
Still in commodities, global oil prices hovered near six-month highs, with the Organization of the Petroleum Exporting Countries keeping output unchanged amid geopolitical tensions over Iran and supply disruptions in Kazakhstan.
On Jan. 30, the S&P 500 and the Dow Jones Industrial Average each fell 0.4%, while the Nasdaq Composite declined 0.9%.
In the macroeconomy, Australia’s manufacturing sector started the year with its fastest growth in five months, driven by rising domestic and export demand, stronger hiring, and heightened business optimism, according to a survey by S&P Global published Monday.
In corporate news, GrainCorp (ASX:GNC) issued its fiscal 2026 earnings guidance, projecting underlying earnings before interest, taxes, depreciation, and amortization of AU$200 million to AU$240 million, down from the actual result of AU$308 million in fiscal 2025.
Northern Star Resources (ASX:NST), Evolution Mining (ASX:EVN), and Newmont (ASX:NEM) are in focus as gold prices plunged, following US President Donald Trump’s nomination of Kevin Warsh to lead the US Federal Reserve.