The S&P/ASX 200 fluctuated to around 8,840 on Wednesday, as gold stocks rallied while miners and energy firms dragged. Gold shares climbed 1.2% to a record high, tracking bullion’s surge to fresh peaks on safe-haven demand after the US government was set to shut down at midnight, leaving about 750,000 federal employees furloughed following Congress’s failure to pass funding bills. Gold miners Northern Star (0.9%) and Evolution Mining (1.3%) led the sector. Conversely, copper miners weighed, with sector giant BHP sliding 1.7% after PM Albanese expressed concern over reports that China’s state iron ore buyer has paused purchases from the company. Additionally, energy stocks dropped 0.6% amid lower oil prices. Risk sentiment was also dampened after the RBA kept rates steady but struck a hawkish tone on inflation, dimming hopes of an imminent rate cut. Markets now only see a 40% odds of a November cut, with at most one more easing expected as the central bank waits for Q3 inflation data.