Oil prices were little changed as traders' worries about abundant global supplies returned to the fore a day after a rally fuelled by bargain hunting from prior slumps.
Gold has fallen for a second day, reaching its lowest level in three weeks, after the Federal Reserve hinted at a possible US interest rate rise in December.
The decision to keep rates unchanged in the US has given a note of confidence to the Australian share market, despite supermarket giant Woolworths shedding eight per cent of its value.
Gold prices have fallen in their weakest session in a month, with the market turning lower after the US Federal Reserve left the door open to a possible interest rate rise in December and the US dollar hit a two-and-a-half-month high.
Oil prices have surged after a US stockpiles report showed oil supplies rose less than expected last week, bringing a whiff of relief to concerns about the global glut.
The share market has fallen as weaker commodity prices and a disappointing profit from National Australia Bank outweighed increasing expectations of a Melbourne Cup day rate cut.
Tame inflation figures have given the green light to the Reserve Bank of Australia for an interest rate cut, but it remains unclear whether the central bank is inclined to step on the accelerator at its next monthly meeting.
Shares of pharmacy chain Rite Aid and Starwood Hotels have bolted higher on reports of possible takeover bids, but the broader market declined on mixed earnings and lacklustre economic data.
Oil prices fell Tuesday with the market expecting another rise in US stockpiles as mild weather limited demand and sent natural gas prices to three-year lows.
Gold has edged up as the beginning of a two-day Federal Reserve meeting has investors turning cautious, and moves are muted as buyers await clues on the timing of a possible US interest rate hike.
Western Australian Legislative Council president Barry House has announced he won’t contest re-election for his seat of South-West Region in 2017, after nearly three decades in parliament.
Australian businesses are settling their invoices at a ‘record-setting pace’ of 45.1 days on average, according to a quarterly report by Dun & Bradstreet.
Australia's incoming chief scientist believes the country should work towards zero emission energy generation and must consider nuclear as part of the mix.
Gold has steadied, after a three-day losing streak as the US dollar's ascent paused and uncertainty persisted over the timing of the first US Federal Reserve rate increase in a decade.
Gold is slightly lower after the US dollar soared to its highest level in more than two months and US equities raced higher following China's easing of monetary policy for the sixth time in a year, reviving expectations of a US rate hike.
