Market Wrap / golden gains

The S&P/ASX 200 closed 0.85% higher to 8,862.80 points this Monday, ahead of the RBA's rate decision tomorrow.

All big four banks ended in the green, with CBA advancing by 2.3%. Gold surged to a fresh record highs and a weaker US dollar, sending the gold miners higher. 

However, iron ore was tracking down, amid lower steel demand illustrated by higher inventories in China. This hurt BHP, which shed 0.7%.

The healthcare space also helped to buoy the market, with CSL rebounding from Trump's pharma tariff announcement on Friday. The stock ended 2.5% higher with UBS saying the CSL could offset tariffs by investing in US manufacturing. Elsewhere, Electro Optic Systems hit a five-year high as it highlighted a $299 million backlog and updated its revenue outlook. Meantime, Droneshield shares topped the 200 up 18% following Russian incursions into NATO territory, where the company has multiple clients.