Gold & Tech Rebound Sharply. Portfolio Top Stocks Today: PC2 (+8.2%), SYL (+8.2%), OBM (+5.7%)
Paper Mandate Market & Portfolio Commentary | 17 June 2026
Fund Status:
Bal Start: $1,177,960
Bought None
Sold: None
Bal End: $1,197,493
Cash: $115,284
Overnight Markets
A fractured session overnight, with the Dow Jones (+0.64%) to a fresh record high while Nasdaq (-1.15%), and S&P 500 (-0.57%) fell. Energy markets faced another wave of selling with WTI down -5.82% and pushing Brent below the key US$80 threshold. There was a rotation into value sectors, Financials (+1.49%), Utilities (+0.69%), and Gold (+2.31%). Meanwhile, SpaceX (only days after IPO) announced a US$60 billion all-stock acquisition of Anysphere, an AI coding tool. Bank of America’s released its global fund manager survey, the insight shows that the semiconductor trade has become the most crowded in history. In addition, fear that there is an AI bubble also increased.
Australian Market
The ASX 200 notched up +0.49% as the market recovered. Market breadth improved and was resource led. All Ordinaries Gold Index (a four-day rally of +22.1%) advanced +3.83% followed by Tech (+1.7%) and Discretionary (+1.16%) and Materials (+1.15%). Energy fell -2.2% as oil prices fell following tentative US-Iran negotiations to reopen the Strait of Hormuz.
Portfolio Commentary
Another good day for the Paper Mandate Portfolio, up +1.66% to the ASX300 +0.57%. The main driver was the recovery in Materials (+5.7%) and Tech (+2.1%), reversing yesterday's "SaaSpocalypse". Our tech overweight led the charge: WTC (+4.10%), Xero (+3.45%), and MP1 (+2.06%). We also saw our newest entrant Symal (SYL) jumped +8.15% after acquiring another business in a national defence vertical. Gold exposure remains lucrative, with OBM jumping +5.68% and PC2 spiking +8.20%. On the downside, there was a -3.60% drop in Woodside, which fell alongside the broader Energy market as crude oil dropped below a key level.
Investment Activity
None
Disclaimer: This is a paper portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.