SYDNEY/WELLINGTON: Australian shares closed at their highest level in nearly 14 months on Thursday, extending gains from the previous session when mild inflation data pushed the benchmark index to snap its two-day losing streak.

The S&P/ASX 200 index closed 0.3% higher at 7,082.3. Gains in tech and gold stocks helped outweigh dismal trading updates from Woolworths and Fortescue Metals.

Across the Tasman Sea, New Zealand’s benchmark S&P/NZX 50 index rose 0.5% to 12,715.2.

Gold stocks rose 2.37% as bullion prices jumped overnight after the US Federal Reserve kept interest rates unchanged

Australia’s biggest gold miner Newcrest jumped as much as 2.7% after posting production of 512,424 ounces for the March period, beating the 491,539 ounces tipped by RBC analysts.