The S&P/ASX 200 climbed 1.2% to close at 8,697 on Friday, extending the prior session’s gains to hit its highest level in four weeks, and gained 0.7% for the week, its third straight weekly advance as optimism over the US Federal Reserve’s rate cut continued to lift the market. The Fed’s move helped push bullion prices higher, boosting gold miners 4.5% and marking their third straight gain to a record high. Sector leaders Northern Star and Evolution Mining rose 2.9% and 4.2%, respectively. The broader mining sector also surged 2.2% to a lifetime high, supported by record copper prices. Heavyweights BHP and Fortescue gained 1.1% each, while Rio Tinto soared 2.5% to an all-time high. Notable gainers included major banks, with the “Big Four” rising between 1.4% and 2.1%, and healthcare firms, such as biotech giant CSL, up 2.9%. Traders also pushed back expectations for RBA rate hikes next year after a mixed jobs report signaled a cooling labor market.