Sydney, January 27, 2026, 17:23 AEDT — Market closed
- Evolution Mining ended slightly lower after testing the A$15 level during the session.
- Record bullion prices keep Australian gold miners front and centre for traders.
- The next hard catalyst is Evolution’s half-year results in February.
Evolution Mining Ltd shares ended Tuesday down 0.7% at A$14.76, slipping 10 Australian cents from the prior close after trading between A$14.54 and A$15.13. The stock is still hovering near its 52-week high of A$15.29. 1
The drift matters because gold has pushed through the psychological US$5,000 mark and miners have become a fast proxy trade for the metal. In that kind of tape, it doesn’t take much to move a big, liquid name either way.
Spot gold touched a record $5,110.50 an ounce on Monday and is up nearly 18% so far this year as investors sought safety amid international political tension. “Central banks remain strong buyers … and reduce reliance on the U.S. dollar,” said Ryan McIntyre, president at Sprott Inc, while Adrian Ash, head of research at BullionVault, said the big drivers this year were “Trump and Trump”. 2
Australian equities broadly tracked higher through the day as gold and silver surged, with traders also watching incoming inflation signals, ABC News reported. 3
Among local peers, Northern Star Resources was last at A$27.70, about 0.4% higher on the day, underscoring the mixed tone in the sector even as bullion holds near records. 4
For Evolution, the next scheduled focal point is its FY26 half-year results on Feb. 11, the company’s calendar showed. That print is likely to reset expectations on costs and cash generation more than day-to-day swings in the gold price. 5
The miner’s most recent operational update came last week, when it reported December-quarter gold production of 191,000 ounces and copper output of 18,000 tonnes, and said gearing — a measure of leverage — improved to 6% as at Dec. 31. 6
But the trade cuts both ways. A pullback in bullion or a firmer U.S. dollar can snap momentum quickly, and City Index analyst Fawad Razaqzada said it was “difficult to see what really forces this market to roll over, aside from a wave of profit-taking.” 7
With the ASX shut for the day, traders will be watching whether gold holds above US$5,000 and whether the Aussie dollar steadies or extends recent moves — miners sell gold priced in U.S. dollars but report in Australian currency.
