The ASX200 closed up 4 points at 8,540 points.

The local index rallied and hit a new all-time intra-day high of 8,575 in a buoyant session.

Gold has been trading at $US2,917 per ounce, and Bank of America believes the record rally in gold prices has further to run; evening suggesting the precious metal could reach $US3,500 an ounce.

Materials was the best performing sector, up 1.5%, followed by Discretionary, up 0.9%, and Industrials, up 0.1%.

Utilities was the biggest loser, down 2.3%, followed by Staples, down 1%, and Energy, down 0.8%.

In the Green

Temple & Webster (ASX:TPW) closed up 13.0% after hitting a record earlier in the session. Sales topped market expectations, jumping nearly 24%. They were boosted by both new and returning shoppers.

Temple and Webster closed at $16.14.

Ora Banda Mining (ASX:OBM) closed up 2.7% on results from its exploration drilling at the Riverina Gold Camp, which is being tipped to extend the mine’s life by several years. The introduction of additional rigs resulted in the confirmation of high-grade gold mineralisation at greater depths.

Ora Banda Mining closed at 95 cents.

Mineral Resources (ASX:MIN) closed up 6.9% after confirming Managing Director Chris Ellison will now be stepping down. The company’s next chairman has been tasked with finding Ellison’s replacement.

Mineral Resources closed at $34.07.

In the Red

Graincorp (ASX:GNC) closed down 5.4% following the release of a guidance update. The company revealed it expects to report an underlying net profit after tax in the range of $60 million to $95 million in FY 2025.

Graincorp closed at $7.00.

Carnaby Resources (ASX:CNB) closed down 7.5% on release of assay results from drilling at its Greater Duchess Copper-Gold Project in Mt Isa. The new exploration results highlight substantial copper and gold mineralisation, solidifying the project’s potential.

Carnaby Resources closed at 37 cents.

Orora (ASX:ORA) closed down 4.7% after its half-year financial results revealed a strategic pivot towards global beverage packaging.

Orora closed at $2.23.

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