Overseas markets gave the market no clear leads with the Dow Jones adding just 4.23 points to 9543.52 points.
"Signals from Wall Street are somewhat negative, because the market wasn't lifted by better than expected economic data," Mizuho Securities senior technical analyst Yutaka Miura told Dow Jones Newswires.
"The US market may be facing stronger resistance now.”
Locally, the positive economic data to emerge today was that business investment in the second quarter increased 3.3% to $23.31 billion, a figure that exceeded expectations.
The S&P-ASX 200 closed just 3.7 points down to 4450.8 points.
Lead was down 0.5% to $US2033 per tonne after making large gains in the previous few sessions, while nickel fell 1.4% to $19,105/t.
It was a bad day for the mining majors though BHP Billiton fared better than its biggest rival, Rio Tinto.
BHP closed 1.3% or A50c down to $37.65, while Rio finished 3% or $1.78 down to $57.16.
OZ Minerals fell 6% or 7c to $1.08 after posting a half-year loss of $580.7 million due to the sale of four of its operations to China’s Minmetals.
Gold miner Sino Gold today confirmed the rumour that its largest shareholder, Toronto-listed Eldorado Gold Corporation, would make a friendly takeover offer.
Sino Gold directors have recommended the offer and, if successful, Eldorado will seek an Australian listing.
The company’s shares emerged from a trading halt and jumped 12% or 73c to $6.70.
Meanwhile, Aquila Resources remains in a trading halt, though rumours suggest the company will announce a major Chinese shareholder tomorrow.
Newcrest Mining rose 2.1% or 61c to $29.62, while Lihir Gold fell 1.4% or 4c to $2.72.
Meanwhile, UBS has upgraded Lihir to buy from neutral and increased its target price to $3.20 from $3.10.
Despite today announcing recent intersections of up to 6 grams per tonne gold from its Shambesai project in the Kyrgyz Republic, Manas Resources shares fell 16% or 2.5c to 13.5c.
On the other end of the spectrum, Ord River Resources saw its shares jump 42% or 1.3c to 4.4c on a Chinese deal.
Ord has signed a subscription agreement with its shareholder China Non-Ferrous Metals International Mining Co for $10 million in funding over the next three years.
