ASX Climbs on Bank, Gold Miner Gains
The Australian sharemarket opened higher, driven by gains in major banks and gold miners.
The benchmark S&P/ASX 200 Index increased by 0.6 per cent, or 51.5 points, reaching 8937 at the start of trading, with eight out of eleven sectors showing positive movement.
The materials sector experienced growth, mirroring the rising gold price which rebounded after a 5 per cent drop over the previous four sessions.
Gold saw a surge of up to 2.5 per cent as investors assessed the outcomes of a meeting between US President Donald Trump and Chinese leader Xi Jinping.
Author summary: ASX rises driven by banks and gold miners.
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