End of Day Report – Tuesday 21 October: Another record high for the ASX

The Aussie market held steady in afternoon trade, with the XJO index closing out the day with a 0.70% gain. Another record high. Gold stocks opened strong, and stayed strong. NST was up 2.87%. One research house today said that the rise in gold is so big that physical bullion is getting close to taking second spot on the ladder of Australia’s biggest exports. Coal and LNG are trending down. Australia is the third largest gold exporter globally, behind China and Russia. The royalty cheques should help sustain our high government spending, believed to be at an elevated 28% of GDP currently. Some of the lustre came out of the rare earth announcement this morning, with early moves in LYC -7.6% and ARU fading. US futures have turned negative as we get closer to the open. That likely moderated some of the early momentum in the Aussie market this afternoon. Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.