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S&P/ASX 200 rises as fourth quarter GDP grows at a higher than expected 3.1%

Brent crude dipped 1.55%, to US$62.70 per barrel ahead of this week’s OPEC+ meeting where producers are expected to ease supply curbs as economies start to slowly recover from the COVID-19 crisis.

Ansila Energy NL - S&P/ASX 200
Spot gold gained 0.8% to US$1,737.62 per ounce on Tuesday after falling to US$1,706.70 earlier in the session, its lowest since June 15.

S&P/ASX 200 (INDEXASX:XJO) gained 0.67% to 6,807 by about 1.45 pm after Australia’s GDP rose 3.1% in the fourth quarter of 2020 (October to December), higher than an expected rise of 2.5%.

While on an annual basis the economy shrank 1.1%, it was still better than an expected 1.9% decline.

Gold miners surge

Gold miners are some of the biggest winners today with Ramelius Resources (ASX:RMS) rising 10.79% and Northern Star (ASX:NST) up 3.4%.

Fortescue Metals (ASX:FMG) gained 4.35% and BHP Group (ASX:BHP) rose 2.5%.

Top gainers

Today’s top gainers on the ASX include Ansila Energy NL (ASX:ANA) (+13.04%), Brookside Energy Ltd (ASX:BRK) (+36.36%), Davenport Resources Ltd (ASX:DAV) (+22.22%), OAR Resources Ltd (ASX:OAR) (+14.29%), Ora Banda Mining Ltd (ASX:OBM) (+12.24%) and Piedmont Lithium Ltd (ASX:PLL) (+7.98%).

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