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 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.
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.
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.
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.
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.
WA BUDGET: WA Treasury has revised its forecasting methodology for iron ore prices to assume that prices fall away quickly from the current inflated levels, which have provided a large boost to government coffers.
WA BUDGET: Federal infrastructure grants and reform of the GST have helped the state government project a $1.5 billion operating surplus in the upcoming financial year, although funding for the Ellenbrook rail line is largely absent.
Oil futures gained one per cent overnight, boosted by a surprise drawdown in US crude stockpiles but an escalating US-Chinese trade fight limited oil's gains as investors worried about the global outlook for energy demand.
Gold prices slipped after climbing to a more than three-week peak overnight as safe haven demand eased after the White House said it had received an indication from China that Beijing wanted to make a trade deal.
Oil prices closed at their lowest in about a month overnight as renewed doubts over a US-China trade deal stoked concerns over global growth and on expectations that US crude stockpiles could hit fresh 19-month highs.
Gold prices gained overnight as stock markets weakened after a US threat to hike tariffs on Chinese imports renewed trade tensions and improved demand for safe-haven bullion.
OPINION: The stubbornly high level of unemployment – despite a stronger economy – has many worried, particularly as new mining technologies increasingly cut into workforces.
The Reserve Bank of Australia has resisted temptation to cut the cash rate from its record low 1.5 per cent, but a move could still be on the horizon after it flagged concerns at the pace at which unemployment is falling.
Oil futures edged higher in volatile trade overnight as rising tensions between the United States and Iran buoyed prices after they touched a one-month low following US President Donald Trump's threat that he may raise tariffs on Chinese goods.
Gold edged up overnight as a slide in global share markets after the US government's threat of further tariffs on China prompted investors to favour safe-haven assets, but bullion's upside was capped by a firm US dollar.
