S&P/ASX 200 (INDEXASX:XJO) fell 0.96% to 5980 points at 12.26 pm after inflation-adjusted retail trade fell by 3.4% in the June quarter – the biggest quarterly fall since the introduction of the GST 20 years ago.
For the financial year ended June 30 2020, inflation-adjusted retail trade fell by a record 0.3% (35 years of data) while nominal spending rose by 2.9%.
Change in consumer behaviour
Unpublished data from the Australian Bureau of Statistics show that COVID-19 caused big changes in consumer behaviour over the past year.
Australians bought more alcohol, electrical goods, toys, games and hardware items.
But people made fewer visits to cafes, restaurants, clothing and shoe stores and bought fewer newspapers and books.
Spot gold crosses US$2000 for the first time in history
Spot gold touched a new record US$2025 an ounce this morning and remains above US$2000 amid safe-haven demand, falling US treasury bond yields and a weakening US dollar.
Today’s top gainers on the ASX include Australian Vanadium Ltd (ASX:AVL) (+10.00%), Aeris Resources Ltd (ASX:AIS) (+9.43%), Ansila Energy NL (ASX:ANA) (+11.76%), Latin Resources Ltd (ASX:LRS) (+11.11%) and Mako Gold Ltd (ASX:MKG) (+12.50%).
Proactive news headlines:
TNT Mines returns high-grade uranium and vanadium in samples from None Such
TNT Mines Limited (ASX:TIN) has delineated high-grade uranium and vanadium in samples gathered from the None Such workings within the 100%-owned East Canyon Project in Utah, USA.
Core Lithium receives $5 million concessional finance facility from NT Government for Finniss development
Core Lithium Ltd (ASX:CXO) has received a non-binding indicative term sheet from the Northern Territory Government's Local Jobs Fund (LJF) for a $5 million concessional finance facility to help fund development of the Finniss Lithium Project.
Meteoric Resources mobilising to Palm Springs Gold Project with drilling to kick-off this month
Meteoric Resources Ltd (ASX:MEI) is this week mobilising its exploration team to the Palm Springs Gold Project in WA's Kimberley region for the start this month of stage-1 drilling.
Horizon Minerals will kick-off resource growth drilling programs when first gold revenue lands
Horizon Minerals Ltd’s (ASX:HRZ) next round of resource growth and reserve conversion drilling programs will begin at its suite of gold projects near Kalgoorlie-Boulder in WA's Goldfields following positive cash flow generation from the newly producing Boorara Gold Mine later this year.