SYDNEY, Jan 14, 2026, 16:50 AEDT — After-hours
- Northern Star gained 1.4%, following a rally in Australian gold shares driven by a rise in bullion prices
- Gold hovered close to record highs as weaker U.S. inflation data fueled speculation of rate cuts
- Attention shifts to Northern Star’s Dec-quarter report and updated cost guidance due Jan 22
Northern Star Resources Ltd shares closed Wednesday 1.4% higher at A$26.73, building on gains fueled by the recent jump in gold prices.
With the ASX closed, the key question for the next session is whether that tailwind can continue driving miners forward, especially as their output and costs remain under scrutiny following a rocky start to the year.
Northern Star’s focus next week is clear: the December-quarter results and any revisions to cost forecasts. After the production downgrade, investors are zeroed in on the financial impact.
Australian shares closed a touch higher, led by gains in gold. February gold futures climbed 0.87% to $4,639.16 a troy ounce in late trading, per Investing.com data.
Spot gold climbed 0.9% to $4,627.95 an ounce, while silver broke above $90, boosted by weaker U.S. inflation data that reinforced expectations for rate cuts. “The data has been positive… these are the indicators that have further driven precious metals up,” said Brian Lan, managing director at GoldSilver Central. Reuters
Northern Star trimmed its FY26 production guidance on Jan. 2 to between 1.6 million and 1.7 million ounces, down from the previous 1.7 million to 1.85 million. The revision follows a weak December quarter, where gold sales hit roughly 348,000 ounces (“348 koz”). The company pointed to a primary crusher failure at KCGM, slower recovery at Jundee, downtime caused by carbon-in-leach tank issues at Thunderbox, and lower grades at Pogo. It plans to release December-quarter costs and updated annual cost guidance alongside its results on Thursday, Jan. 22.
In response to an ASX query, the company highlighted the steep drop after the January 2 downgrade, with shares sliding from a A$26.73 close on December 31 to an intraday low of A$23.67. It added that it wasn’t in a position then to reliably assess the impact on annual cost guidance and would provide an update once it could measure any significant changes.
But rising bullion prices aren’t a guaranteed solution. If costs run hotter than anticipated, or if plant reliability and ore grades remain unstable, profit margins could shrink fast—despite gold flirting with record highs.
Keep an eye on the gold tape Thursday, then shift focus to the local miners. The real challenge arrives next week, with Northern Star’s quarterly report due Jan. 22. Investors will be looking to see if a cost reset follows the production downgrade.
