Key takeaways:

• Gold, near record highs, has supported gains for the market this week

With hopes of a US interest rate pause growing, and gold in strong demand, the local share market is set to record its third consecutive weekly gain.

Which shares excelled?

Shares in Corporate Travel Management (ASX: CTD) hit a six-month high earlier this week after the company announced a major contract win with the UK government Home Office. 

CTD was successful in securing a two-year Bridging Accommodation and Travel Services contract with a total transaction value worth approximately $3 billion, with the option for a one-year extension to boot. Management expects the contract will afford the company scope for growth from FY24.

A frontrunner over recent trading sessions was Nickel Industries (ASX: NIC), with the nickel producer gaining ground by a double-digit percentage. Back on Tuesday the company was the best performer among all ASX 200 constituents, which followed news Nickel Industries would issue new notes and tender its existing notes to extend its debt maturity profile. There was also a positive for shareholders when it became clear the company managing director recently bought $2.1 million worth of shares in the business.While it was out of favour for much of 2022, NextDC (ASX: NXT) has been on a tear of late, with its year-to-date gains up more than 35%. This week the company provided the market with a trading update, where it reported contracted utilisation at its data centres has jumped 43% since the end of the year. The biggest areas of uplift for the firm have been growth out of its new S3 data centre, as well as a record level of incremental customer contract wins.

In what has been a continuing theme of late, gold stocks were among the major winners once again. The precious metal approached an all-time high, topping US$2,040 per tonne, which has gold bugs' believing another bull run could be in the works. 

Combined with Newmont decision to lob a higher takeover bid at Newcrest Mining (ASX: NCM), the sector has been in hot demand. Some of this week beneficiaries are Regis Resources (ASX: RRL), Bellevue Gold (ASX: BGL), De Grey Mining (ASX: DEG), Ramelius Resources (ASX: RMS), and Northern Star Resources (ASX: NST).While it has been at the centre of proceedings at NSW Independent Commission Against Corruption over recent days, Downer EDI (ASX: DOW) still managed to outperform the market. Without any clear catalyst to spark the share price rally - an interim agreement for cyclone recovery works in NZ was not deemed to be price sensitive - it may be the case that investors believe the contractor is through the worst of its corporate governance issues.A few names also making an impression this week include Strike Energy (ASX: STX), Emerald Resources (ASX: EMR), Codan (ASX: CDA), and Lendlease (ASX: LLC).

Which shares dragged on the market?

WAM Leaders (ASX: WLE) ends the week on a low note after the company announced a capital raise. A placement of $131 million was successfully completed at a price of $1.48 per share, while a separate $30 million share purchase plan was also announced. That plan includes an interim franked dividend of 4.5 cents per share, with investors offered shares at the lower of $1.4749, or a 2.5% discount to the five-day volume-weighted average price at the issue date.Casino operator Star Entertainment Group (ASX: SGR) has faced a tricky week. There was some hope among shareholders recently that the company could be spared from plans to increase casino taxes first raised by the former NSW Liberal government. However, reports in the AFR suggest any major changes to that policy under the new ALP government are unlikely, with the plan expected to proceed largely as it was proposed, except for small tweaks. As investors continue to digest the implications of Energy Resources of Australia (ASX: ERA) $369 million entitlement offer, the share price drifted lower this week. The uranium player launched a five-for-one non-underwritten pro-rata renounceable entitlement offer at a 90.2% discount to its five-day volume weighted average price of 20 cents. 

Proceeds from the offer are intended to finance the rehabilitation of the former Ranger uranium project in the Northern Territory, with iron ore giant Rio Tinto - already a major shareholder in ERA with a near 90% stake - set to contribute a majority of the raise.

Names like Imugene (ASX: IMU), Data#3 (ASX: DTL), Atlas Arteria (ASX: ALX), and Silex Systems (ASX: SLX) round out the week underperformers, albeit the latter trio managed to contain losses to a small figure. 

We'll be back next week with another Weekly ASX Trading Wrap Up - until then, have a great week!