Gold bounced up slightly on Tuesday, as a weaker U.S. dollar gave bullion a boost after the previous day's sharp decline and as investors awaited the minutes, due on Wednesday, of the Federal Reserve meeting held in November.
Oil edged up on Tuesday, supported by expectations that OPEC and other producing countries next week would extend output cuts, but signs of higher U.S. crude output kept prices under pressure.
Treasurer Ben Wyatt has announced details of a new gold royalty increase that is budgeted to raise $332 million over four years while seeking to address the industry concerns that killed off his previous proposal, but the new plan has failed to win support.
Gold has fallen more than one per cent, giving up the prior session's gains on pressure from the rising dollar, expectations for US interest rate hikes and as the market entered a holiday week.
Oil has rebounded more than two per cent after falling for five straight session as a major US crude pipeline was shut and traders anticipated an OPEC deal to extend curbs on production.
Gold has jumped to a one-month high as the dollar softened on uncertainty about the progress of a proposed overhaul of the US tax code that would be the biggest since the 1980s.
The Australian dollar is a little lower against its US counterpart as risk appetite turns a little more positive thanks to solid earnings and revived optimism over US President Donald Trump's promised tax cuts.
Oil prices have again ended lower on increased concerns about growth in US production and inventories, despite expectations that major world producers will extend a supply-cut deal later in November.
Gold prices are slightly lower, trading in a tight range as the US House of Representatives pass its version of sweeping tax cuts and investors weighed possible changes in fiscal policy against the impact of an expected rise in US interest rates.
Planning Minister Rita Saffioti has recruited experienced town planner and urban designer Evan Jones to head a review that she hopes will deliver a more strategic and streamlined planning process.
Western Australia's unemployment rate rose 0.1 percentage points in October to be 5.8 per cent in trend terms, while the national number remained unchanged at 5.5 per cent.
Western Power plans to reduce spending by nearly $1 billion in the next five years compared to the five years just gone, according to a proposal by the state-owned network operator to the state's economic regulator.
Horizon Power will roll out a $7.1 million distributed energy pilot project in Carnarvon, while the state government has unveiled a trial to incentivise demand management by users during peak periods in Broome.
Australian businesses have cheered the nation's majority 'yes' decision in support of same-sex marriage and are urging federal parliament to legislate quickly.
Treasurer Ben Wyatt has kept open the possibility of a bank tax in Western Australia, after South Australian Premier Jay Weatherill today quietly dropped his state's planned tax on the five biggest financial institutions.
Oil prices have held steady in a tight range after briefly testing lower, with support from Middle East tensions and record long bets by fund managers balanced by rising US production.
Gold recouped some of the previous session's hefty losses on Monday as the US dollar steadied and uncertainty over a US tax reform plan stoked risk aversion, pulling equities from their recent record highs.
Crude is down slightly as expectations that OPEC and other producers will extend their production cut agreement were offset by US drillers adding the most oil rigs in a week since June, indicating output will continue to grow.
The Australian dollar is lower against its US counterpart which itself has slipped, along with equities, amid concern over President Donald Trump's planned tax reform.
Gold prices have turned lower as US Treasury bond yields rose, but losses were limited by weaker stock markets and the US dollar, which fell due to uncertainty over US tax reform.
Gold is higher as a weaker US dollar pushes prices during the session to a three-week high for the second time in successive days, while palladium dipped but stayed close to 16-year peak hit during the session.
Oil prices have risen nearly one per cent, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia.
