Gold has risen about one per cent, spurred by a fall in global equities and inflows into bullion funds that helped the precious metal recover ground lost in previous sessions.
Wall Street stocks have slid, hurt by pressure from a renewed drop in oil prices, undercutting momentum that had helped the market rebound from a sluggish start to the year.
Gold prices have slipped as much as two per cent as the US dollar strengthened and investor appetite for risk increased, but the metal remained above $US1,200 an ounce after a rally that pushed prices to one-year highs in February.
Global stocks have rallied, backed by a rise in oil and commodity prices, while the British pound suffered its biggest one-day loss in nearly six years against the US dollar on fears Britain would leave the European Union.
Gold has eased as investors cashed in some of the previous day's two per cent gains, though expectations that rock-bottom interest rates would persist served to keep prices above $US1,225 an ounce.
Creditors of failed investment bank Lehman Brothers (Australia), including about 10 local councils in Western Australia, are likely to get a return of about 80 cents in the dollar after reaching a settlement with the owner of ratings agency Standard & Poor’s.
The impact on economic development and power prices from a sale of the state’s electricity network could be managed by a strong regulatory framework, Premier Colin Barnett said today, as he continued to reassess his view on the ownership of Western Power.
Premier Colin Barnett has ruled out any further state tax increases in the upcoming budget, and has said the government might look at reviewing land tax aggregation, at this morning’s Business News Success & Leadership breakfast.
Wall Street closed lower on Thursday, ending a three-day winning streak, as Wal-Mart shares dragged on the market after a lacklustre earnings report and oil prices pulled back.
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.
Perth contractor NRW Holdings has had a major boost, with the state government selecting the company's joint venture with Italy’s Salini Impregilo as preferred contractor for the $2 billion Forrestfield-Airport Rail Link.
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.
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.
Almost 80 contract variations worth more than $81 million tripled the cost of a Department of Health central computing services contract, with issues including more than 60 per cent of data racks going unused, the auditor general revealed today.
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.
A public sector wage freeze, amalgamations of major departments and a reform of health would be key moves to fix the state government’s worsening debt position, according to Chamber of Commerce and Industry of WA’s pre-budget draft submission.
