US-listed precious metals miners rose; Harmony Gold (HMY.N) +7.0%, Gold Fields +5.6%, Barrick Gold (GOLD.N) +4.1% and Newmont (NEM.N) +3.8%. The SPDR Gold ETF rose 2.3%.

Since SpaceX's record IPO last month, investors have lacked sufficient analyst financial forecasts to value the stock. That will change from next Tuesday, when the quiet period for analysts at the IPO's lead underwriters — Goldman Sachs, Morgan Stanley, BofA, Citigroup and JP Morgan, plus 18 other banks — expires. A wave of research reports, price targets and growth forecasts is expected to hit the market and should affect near‑term and multi‑year pricing. B. Riley Wealth chief market strategist Art Hogan said market discussion has focused on what the company might become by 2030 rather than its next 12 months, but investors still need to monitor the next four years.

GSFM investment strategy adviser Stephen Miller said the Reserve Bank of Australia’s June meeting minutes and recent comments from Governor Bullock suggest policy rates may still need to rise. He said this reflects the government’s inability to aid the RBA’s fight against inflation via supportive structural policies. Miller added the RBA faces multiple challenges balancing structural inflation drivers and cyclical vulnerabilities.