AAP

Gold prices have risen just over two per cent, reversing earlier losses and lifting silver, as US equities resumed their downward spiral, renewing bullion's safe-haven appeal that has spurred the market's biggest rally in years.

Australian shares have enjoyed their strongest gains in three months as the resources sector rallied on a rebound in oil prices.

Evolution Mining expects to benefit from higher gold prices and renewed interest in the sector despite swinging to a $15.5 million half-year loss.

January brought a major reduction in the Western Australian unemployment rate, down 0.4 points to 5.9 per cent in seasonally adjusted terms, according to the Australian Bureau of Statistics, with a record number of women in jobs.

A surge in oil prices overnight has filtered through to gains on the Australian share market.

Telstra is on track to hit its annual financial guidance despite the telecommunications giant posting a flat first half net profit amid intense competition.

US stocks tallied their third straight session of gains on Wednesday, led by energy shares as oil prices jumped, while better-than-expected economic data helped allay growth fears.

The Australian dollar is stronger with the greenback falling amid news the US Federal Reserve has been concerned about global uncertainty and market volatility hitting the American economy.

Gold has held on to earlier gains and snapped three days of losses, after minutes of the US Federal Reserve's latest meeting showed policymakers considered changing their planned path of interest rate hikes in 2016.

The Australian share market has finished 0.5 per cent lower, dragged down by energy stocks hit by falling oil prices.

Energy giant Woodside Petroleum has reported a sharp fall in profit on the back of writedowns and says now is not the time to be reckless as it mulls over the future of its key Browse project.

Kerry Stokes' Seven West Media expects a 10 per cent fall in full-year earnings as advertising markets in both TV and print show no signs of growth.

The Australian share market has opened slightly lower despite a positive finish on the US market overnight.

The Australian dollar has fallen as the US dollar rises with equities and oil prices.

Global equity markets rallied on Tuesday as investors engaged in bargain hunting and shrugged off a downturn in oil prices after hopes for an agreement among top producers to freeze output faded.

Gold has fallen for the third straight session, as global equity markets and the US dollar rose, depressing interest in gold as a safe-haven asset and taking it further below last week's one-year high.

Wall Street minted its second straight session of solid gains on Tuesday, as investors snatched up beaten-down consumer discretionary, industrial and tech shares.

The Australian share market has finished almost 1.5 per cent higher, buoyed by energy and materials stocks.

The Reserve Bank appears upbeat on the home front but won't rule out another interest rate cut in the face of an uncertain global economy.

Takeover target Asciano has recommended shareholders accept a $9.01 billion offer from a consortium led by QUBE Holdings after failing to attract a rival matching bid.

The Australian share market has opened higher, led by big gains in the energy and resources sectors.

The Australian dollar has fallen as a risk-seeking continues in markets for the second day in a row.

The Australian share market has kicked off the week strongly, thanks to gains in mining and financial companies.

Newcrest Mining's first-half profit has fallen 55 per cent due to lower gold and copper prices and a shutdown at a major mine.

Aurizon has swung to a half-year net loss of $108 million after taking higher-than-estimated impairments from its West Pilbara iron ore project amid challenging market conditions.

Treasurer Scott Morrison concedes it is "extremely difficult" to offer tax cuts to offset bracket creep when you don't have a surplus.

The Australian share market has tracked US and European stocks higher with strong gains among banking and resource stocks.

The Australian dollar is higher on the back of stronger commodity prices and rising global equity markets.

Gold prices have eased after soaring five per cent the previous day, pressured by profit-taking after the biggest rally in more than seven years, but the metal was still set for its best week in four years as investors rushed to safe-haven assets.

The Australian share market has closed more than 1 per cent lower after the big four banks sagged, taking their lead from global markets.

Treasurer Mike Nahan will not contest the deputy leadership of the state Liberal party, paving the way for Police Minister Liza Harvey, who is likely to be voted in unopposed.

Reserve Bank of Australia governor Glenn Stevens painted a mildly positive picture of the nation when he fronted a House of Representatives economics committee hearing today, saying the economy is growing at a modest pace despite the challenges of falling terms of trade and a wind-down in mining sector investment.