Thanks afternoon crew. End-of-day summary: A rebound in iron ore...

Thanks afternoon crew.

End-of-day summary:

A rebound in iron ore prices and a record high in gold helped the share market start the week with a gain.

The ASX 200 rallied 16 points or 0.2% to 7789. Ore miner Rio Tinto and gold miner Newmont provided much of the session's momentum, supported by toll road operator Transurban, biotech CSL and retail conglomerate Wesfarmers.

Gold's record run continued this afternoon with a new intraday high of US$2,372.70 an ounce in US futures trade. Iron ore bounced back above US$100 a ton in Singapore, gaining more than 5% this morning.

US stocks pared a losing week on Friday as positive jobs data doused recession fears. The S&P 500 bounced 1.11%, cutting its loss for the week to 0.95%.