CSR Ltd (CSR)

23/07/2021

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Afternoon report 30/01/2026

The Match Out: Hot money flips out of resources as Gold pulls back, ASX +1.8% for the month

The ASX reversed earlier gains in the final session of the month, dragged lower by an accelerating sell-off in gold and other resource stocks as hot money headed for the exits. The rally in this part of the market has been impressive, however when stocks and commodities start to go parabolic, aggressive, short, sharp pullbacks become more likely, and we’ve certainly seen that play out today. Using BHP as the proxy for the sector, the stock hit a new all-time high above $52 early on, before reversing to close lower. Golds were hit harder with Newmont (NEM) trading at $190 yesterday before closing ~$173 today.

Morning report 30/01/2026

ETF Friday: How MM sees the resources ETFs in the current buying frenzy

The ASX 200 recovered from early steep losses yesterday to end Thursday's session down just -0.1%, the reverse of Wednesday's price action. It was another session of polarised performance, although most eyes on trading desks were glued to the prices of copper and gold, whose volatility was almost unprecedented. In the early afternoon, Chinese property stocks surged over +10% after Beijing News confirmed that authorities have softened the strict borrowing rules that had worsened China’s property crash. The impact on the related stocks of the ASX was huge. BHP Group (BHP) reversed early losses to advance +1.80%, while Sandfire Resources (SFR) surged, closing up +5.2% after copper popped 7% in a couple of hours following the news.