FEAR & GREED | Business News Afternoon Report | ASX dips, gold smashes record
Sep 2, 2025
The latest market update reveals a dip in the S&P ASX 200 index alongside significant corporate dividend activities. Gold prices hit a record high, spurring optimistic consumer sentiment. However, Australia faces economic hurdles, including a narrowing income gap and weaker exports impacting the trade surplus. On the aviation front, new airline startup Koala Airlines encounters setbacks, while a mysterious GPS jamming incident raises concerns amid escalating geopolitical tensions.
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Market Movement And Consumer Confidence
- The ASX 200 fell 0.3% to 8,901 points with several large stocks dipping after going ex-dividend.
- Consumer spending signs were strong as Collins Foods jumped 8.3% and the ANZ Roy Morgan Index showed rising confidence.
Gold Surges As Treasuries Lose Favor
- Gold hit a fresh record above US$3,500 an ounce driven by a weaker dollar and central bank demand.
- Central banks now hold more gold than treasuries amid debt and geopolitical concerns.
Current Account Deficit Widens
- Australia's current account deficit widened to $13.7 billion in the June quarter as exports fell and gold imports rose.
- Weaker commodity prices and stronger travel demand squeezed the trade position despite investment inflows narrowing the income gap.