Sydney, Jan 19, 2026, 17:18 AEDT — After-hours
- Northern Star climbed as bullion hit new highs, with Australian gold miners driving the rally.
- The shift happens just days ahead of Northern Star’s December-quarter update, where all eyes will be on costs and production levels.
- Geopolitical headlines and tariff threats sparked a risk-off mood, boosting “safe-haven” assets such as gold.
Australia’s Northern Star Resources Ltd (NST.AX) gained 3.2%, closing at A$27.68 on Monday. It stood out in a mixed Sydney market, fluctuating between A$26.74 and A$27.85 before settling close to its 52-week peak. (Investing)
This is significant as Northern Star approaches a crucial update. The miner will publish its December-quarter results on Jan. 22, following a cut in its fiscal 2026 production guidance. The revised forecast now sits between 1.6 million and 1.7 million ounces, down from the previous range of 1.7 million to 1.85 million.
Gold led the way, with spot gold climbing roughly 1.6% to hit a record $4,689.39 an ounce. Investors flocked to safe-haven assets following new tariff threats tied to a Greenland dispute. “Geopolitical tensions have given gold bulls yet another reason” to drive prices up, said StoneX analyst Matt Simpson. (Reuters)
The broader market showed signs of unease. Trump announced new 10% import tariffs kicking in Feb. 1 on products from several European nations, set to jump to 25% on June 1 if no agreement is struck, according to Reuters. Deutsche Bank’s George Saravelos cautioned that “weaponisation of capital” might cause more turmoil than trade itself if major European investors begin repatriating funds. (Reuters)
Australian shares closed down, with the S&P/ASX 200 slipping 0.33%. Losses in information technology, telecoms, and consumer discretionary sectors weighed on the index. Gold stocks provided some relief, as Perseus Mining climbed almost 4% to hit a record high, per Investing.com data. (Investing)
Gold stocks rallied widely during the session. Market Index data revealed gains around 3% to 4% for local names like Westgold Resources, Resolute Mining, Capricorn Metals, and Evolution Mining as gold prices climbed. (Market Index)
Northern Star’s future hinges more on execution than metal prices. In a recent reply to an ASX query, the company highlighted operational setbacks across its sites. These included a primary crusher breakdown at KCGM and carbon-in-leach problems at Thunderbox — a key gold recovery process.
But the situation works both ways. If bullion slips after any thaw in the tariff dispute, gold miners could lose their gains fast. Northern Star still faces the challenge of proving to investors that costs and plant reliability will hold steady through the second half.
Traders are set to focus on the spot gold price and tariff news ahead of Tuesday’s session, followed by the recent sector rotation that’s been leaning towards materials rather than growth stocks.
Northern Star’s next key event is the December-quarter report due Thursday, with half-year results set for Feb. 12, according to the company’s investor calendar. (Nsrltd)
