Sydney, Feb 18, 2026, 18:05 AEDT — After-hours
- Northern Star slipped 0.7%, after a session-long stretch of softer trade.
- Gold paused, holding its ground after tumbling the previous day, with traders eyeing the Fed minutes.
- Bullion fluctuations have traders’ focus right now, along with the Australian dollar and a handful of upcoming corporate events on the calendar.
Shares of Northern Star Resources Ltd finished Wednesday’s session 0.7% lower at A$28.02, hitting their session low of A$27.52 before settling at the top end of the day’s range.
This was significant: gold-linked stocks have lately been moving in step with sharp swings in bullion rather than reacting to their own news. Sentiment can turn on a dime from one day to the next.
Gold’s been seesawing near that key $5,000 per ounce mark, UBS analyst Giovanni Staunovo told Reuters earlier this week, pointing to thin holiday trading as a driver behind the sharp swings.
Spot gold clawed back from a one-week low on Wednesday, shaking off Tuesday’s drop as traders positioned themselves ahead of the U.S. Federal Reserve’s January minutes and Friday’s PCE inflation report—closely watched by the Fed. “Gold prices are taking support above $4,850 today… this is a technical bounce,” said Ajay Kedia, director at Kedia Commodities. Over at StoneX, analyst Matt Simpson saw gold holding in a tight range for now. Reuters
Northern Star slipped roughly 1.9% by midday, moving with the broader pullback across gold stocks, but clawed back some ground before the close. Evolution Mining also traded lower halfway through the session. Mid-tier miners weren’t spared either, dropping anywhere from 1% to 5%, according to MarketIndex data.
The S&P/ASX 200 added roughly 0.5%, though gains were kept in check by weaker gold miners, according to Trading Economics. Banks and tech names offered some lift.
Northern Star didn’t issue any new statements Wednesday. The latest update from the company was its half-year report, which featured a fully franked interim dividend of 25 Australian cents a share. Record date: March 5. Payment due March 26, according to those materials.
For Northern Star, it still comes down to gold prices and the currency. When the Australian dollar strengthens, local miners feel the pinch—gold gets priced in U.S. dollars, so margins shrink. If bullion drops, cash flow can take a hit, no matter if production stays steady.
Macro signals flipping could spell trouble for bullion. Should the Fed minutes or inflation figures nudge expectations toward prolonged higher U.S. rates, the dollar might strengthen. That scenario would sap support from gold, leaving miners exposed, especially with trading on the lighter side.
Northern Star’s March-quarter update lands on April 22, per the company’s investor timetable. That’s the next scheduled catalyst on their calendar.
