Clive Palmer's estranged Chinese joint venture partner has largely lost an appeal over royalties from their massive iron ore project in Western Australia's Pilbara.
Oil prices rose to multi-week highs overnight before easing later in the session as OPEC indicated it was likely to maintain production cuts that have helped boost prices this year.
Gold steadied overnight after recovering slightly from a more than two-week low hit earlier in the session, as equity markets fell ahead of the US Federal Reserve's release of minutes from its last meeting.
Tanya Plibersek has announced she will not contest the Labor leadership, despite being backed by Julia Gillard and Bill Shorten, leaving Anthony Albanese as the only declared candidate.
Gold prices on Friday slipped to their lowest in two weeks as the US dollar advanced on the back of strong US economic data, putting the metal on track for its biggest weekly decline in a month.
Oil prices edged lower on Friday due to demand fears amid a stand-off in Chinese-US trade talks, but both benchmarks ended the week higher on rising concerns over supply disruptions in Middle East shipments due to US-Iran political tensions.
Oil futures were up more than one per cent overnight as tensions in the Middle East grew, with a Saudi-led coalition launching air strikes on the Yemeni capital in retaliation for recent attacks on its crude infrastructure.
Gold was headed for its biggest one-day percentage decline in a month overnight as the US dollar gained and investors opted for riskier assets on the back of robust US economic data even as the US-China trade concerns linger.
Oil futures inched up overnight as the prospect of mounting tensions in the Middle East hitting global supplies overshadowed an unexpected build in US crude inventories.
Gold steadied on Wednesday as share markets rose but concerns about global economic growth and the US-China trade fight kept the metal supported near a one-month peak.
The South West Development Commission has won a $400,000 contract to deliver the federal government’s Tradestart service in the southern parts of Western Australia.
Wage growth in Western Australia has again come in at the lowest level in the nation in the year to March, prompting UnionsWA to call for workplace reform.
Gold retreated from a one-month high hit earlier overnight as stock markets and the US dollar took heart after the United States and China agreed to keep negotiations going to end their prolonged trade conflict.
Oil prices rose more than one per cent overnight after top exporter Saudi Arabia said explosive-laden drones launched by a Yemeni-armed movement had attacked facilities belonging to state oil company Aramco.
If elected prime minister Bill Shorten will promptly scrap the coalition's "insipid" wage submission and ask the industrial umpire to raise award wages.
Oil futures fell overnight with Wall Street as the negative turn in the US-Chinese trade talks spooked investors who had sent oil higher in early trade on concerns about reports of sabotage attacks on tankers in the Middle East that could disrupt supplies.
Gold prices climbed and were on track for their best day in nearly three months overnight as investors sought a safe haven from market turmoil triggered by a Chinese announcement that it will retaliate over levies imposed by the US government.
Opinion: While politicians are showering favoured industries in cash this federal election, voters should remember the recent train wreck of Carnegie Clean Energy as a reminder that subsidies for businesses can flop badly.
Oil prices were mostly steady on Friday, ending last week slightly lower as trade tensions stoked by a US move to hike tariffs on Chinese goods overshadowed tightened global supplies and expectations of rising US refining demand.
Gold prices rose on Friday and were set to post a weekly rise as the United States raised tariffs on Chinese goods, exacerbating fears of a global economic slowdown, while palladium surged more than 5 per cent on technical buying and short covering.
Brent oil futures settled slightly higher overnight, rebounding from a drop after US President Donald Trump revived investor hopes that the United States might not raise tariffs on Chinese imports, a step that could hit economic growth and crimp oil demand.
Gold prices rose overnight, supported by a weaker US dollar and as investors sought safe-haven assets after US President Donald Trump warned a trade deal with China was in danger, sending global stocks lower.
WA BUDGET: There are at least two parties interested in buying the TAB, with the state government committing to put part of the money raised towards replacing King Edward Memorial Hospital.
WA BUDGET: Medical research has received a substantial boost in the state budget, with the government allocating a further $52 million to its Future Health Research and Innovation Fund over three years.
