Australian stocks: Markets lower on offshore selling

At the markets' close, the spot price of gold in Sydney was USA$437.65 per ounce, down 97.5 US cents on yesterday's close.

In the gold sector, Newcrest grabbed 20 cents to A$16.77, Newmont gained four cents to A$5.08 and Lihir found two cents to A$1.245.

The top traded stock by volume was oil explorer Lakes Oil NL, with 29.31 million shares worth A$941,575 changing hands.

Lakes Oil shares were steady at 3.1 cents.

Preliminary national turnover was 1.06 billion shares worth A$3.84 billion, with 436 stocks higher, 592 lower and 329 unchanged.

- AAP