Plummeting gold stocks have led a mining sector slump on the ASX. -AAP Image
Australia's share market has handed back Tuesday's record-breaking gains with interest, after plunging gold prices prompted a mining sector sell-off.
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The S&P/ASX200 fell 62.8 points on Wednesday, down 0.69 per cent, to 9,031.9, as the broader All Ordinaries lost 68.3 points, or 0.73 per cent, to 9,321.8.
The fall came after the top-200 notched a new intraday record of 9,115.2 and a best-ever close of 9,094.7 on Tuesday.
Raw materials stocks tumbled more than three per cent as ASX-listed gold producers plummeted, while profit-taking weighed on rare earths and critical minerals miners a day after Australia inked a key investment deal with the United States.
Energy stocks outperformed the broader market, rising 1.6 per cent as oil prices ticked higher on falling US inventories and hopes of a US-China trade deal.
The Australian dollar has been relatively steady, buying 65.01 US cents, up slightly from 64.91 US cents on Tuesday at 5pm.
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