The S&P/ASX200 rose 22.6 points, up 0.26 per cent, to 8,875.6 by Tuesday's close, as the broader All Ordinaries gained 28 points, or 0.31 per cent, to 9,148.9.
Six of 11 local sectors ended the day trading higher, led by energy and materials while healthcare lagged.
Mining stocks were up 0.7 per cent at noon, as gold hit a fresh high of $3689 ahead of expected US rate cuts, according to IG market analyst Tony Sycamore.
Goldminers Northern Star gained 0.2 per cent, Evolution Mining was up two per cent and Perseus Mining was 3.1 per cent in the green.Â
Also ahead were the sector's heavyweights; BHP was up 0.6 per cent and Rio Tinto rose two per cent.
Energy gained 0.8 per cent amid heightened fears of supply disruptions overseas, with coal miner New Hope recording a 5.5 per cent gain.
Healthcare trailed after CSL recorded a 1.9 per cent slump on the announcement of a deal to potentially acquire Dutch biotech company VarmX BV, which is developing a treatment for a deadly side effect of blood thinners.
The Australian biotech giant will make an upfront payment of $US117 million ($A175 million) for the company, weeks after it announced 3000 job cuts and spun off its vaccine arm.
Financial stocks ended the day in the green but recorded mixed results among the big four banks, with Westpac and NAB in the green while ANZ and CBA lost ground.
The Australian dollar is buying 66.68 US cents, up from 66.57 US cents on Monday at 5pm.
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