S&P/ASX 200 falls 0.82% as Australia's unemployment rate recovers to 6.8% in August

S&P/ASX 200 (INDEXASX:XJO) dived 0.82% to 5907 even as Australia's unemployment rate dropped to 6.8% in August, an improvement from the previous month. This was a positive surprise as most experts were predicting a rise from the 7.5% unemployment rate in July due to stricter measures to limit the spread of COVID-19 weighing on businesses, particularly in Victoria. Iron ore price drops The ASX fell at open today after Wall Street pulled back overnight as the US Fed vowed to keep interest rates near zero until at least 2023 to help core inflation reach 2% on a sustained basis. Iron ore prices took a hit overnight, dropping 3.4% to $US124.20 a tonne. Heavyweight miner Fortescue Metals Group Limited (ASX:FMG) dropped by a staggering 4.61%, Rio Tinto Limited (ASX:RI) shed 2.67% and BHP Group Ltd (ASX:BHP) fell 0.79%. COVID-19 update New COVID-19 infections appear to be dropping in Victoria with just 28 new cases picked up in the last 24 hours, but unfortunately, there have been a further eight deaths added to the state’s tally. Five new cases of COVID-19 were diagnosed in New South Wales, bringing the total number of cases in the state to 4001. India’s total COVID-19 cases passed a grim milestone of 5 million on Wednesday, with its latest million cases recorded in just 11 days. Only the US has more number of cases, with 6.59 million. Top gainers Today’s top gainers on the ASX include Opyl Ltd (ASX:OPL) (+8.57%), Australian Strategic Materials (ASX:ASM) (+8.13%), Lake Resources N.L. (ASX:LKE) (+14.58%), Element 25 Ltd (ASX:E25) (+8.73%), Artemis Resources Ltd (ASX:ARV) (+11.69%), Piedmont Lithium Ltd (ASX:PLL) (+10.00%) and Cauldron Energy Ltd(ASX:CXU) (+10.00%). Proactive news headlines: Predictive Discovery strengthens Guinea gold landholding with new permits Predictive Discovery Ltd (ASX:PDI) is strengthening its landholding within the prolific Siguiri Basin in Guinea with the acquisition of Argo exploration permit and granting of the Bokoro exploration permit. Mako Gold extends gold mineralisation 250 metres along strike at Tchaga in Côte d’Ivoire Mako Gold Ltd (ASX:MKG) has extended gold mineralisation 250 metres along strike at Tchaga prospect within the Napié Gold Project in Côte d’Ivoire where reverse circulation and diamond drilling is ongoing. Carnarvon Petroleum vastly improves confidence in targets near Dorado oil & gas discovery Carnarvon Petroleum Limited’s (ASX:CVN) interpretation of new 3D seismic data has provided a higher level of confidence over the Apus, Petrus and Kepler targets near the Dorado discovery within the Bedout sub-basin on Western Australia’s North West Shelf. Highfield Resources granted high voltage power supply authorisation for Muga Potash Project Highfield Resources Ltd (ASX:HFR) has been granted administrative authorisation for construction of key sections of the high voltage electrical supply line needed to build its Muga Potash Mine in Spain. Orthocell at forefront of growing market opportunity in regenerative musculoskeletal treatment Orthocell Ltd (ASX:OCC) is confident that its unique regenerative medicine product portfolio can address growing market opportunities in the treatment of complex musculoskeletal disorders. Auroch Minerals leveraged to nickel super-cycle of growing export volumes and recovering prices Auroch Minerals Ltd (ASX:AOU) is leveraged to the expected nickel super-cycle with Australia’s nickel export earnings forecast to strengthen on the back of growing export volumes and recovering prices. GTI Resources progressing fast to maiden gold drilling at Niagara Gold Project in Western Australia GTI Resources Ltd (ASX:GTR) is moving fast towards its maiden gold drilling at Niagara Gold Project, southwest of Kookynie in Western Australia, with the company on track for September and October drilling. Ora Banda director participates in placement, supporting company’s gold strategy Great Boulder Resources Ltd (ASX:GBR) directors have shown their confidence in the company’s gold strategy by participating in the recent rights issue.