Gold prices dropped nearly 2 per cent to a near two-week low overnight, while palladium slumped 15.5 per cent as investors scuttled for cash to cover losses in other asset classes mainly driven by a crash in oil markets as the coronavirus wrecks economies.
Roger Cook has revealed which procedures will be given priority when elective surgery resumes next week. WA has reported only one coronavirus case overnight. Regional WA will gain rapid virus testing that will produce results within an hour.
The Australian share market has followed Wall Street lower after US crude oil futures turned negative for the first time amid a coronavirus-induced supply glut.
US crude oil futures collapsed below $US0 for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $US37.63 a barrel as desperate traders paid to get rid of oil.
Gold climbed as much as 1 per cent overnight after earlier hitting a more-than one-week low, with the collapse of US crude oil prices to a record low hitting risk assets and driving investors to the safety of bullion.
Western Australia's coronavirus cases remain static at 545, a first for the state since February 21. Temporary restrictions on takeaway alcohol sales have been lifted. National cabinet to consider resumption of elective surgery tomorrow.
Caltex Australia will not be acquired by fuel retailer Alimentation Couche-Tard, at least in the short term, after talks about an $8.8 billion deal were put on ice.
Gold dropped about 2.0 per cent on Friday after President Donald Trump's new guidelines to reopen the US economy and encouraging early data related to a potential COVID-19 treatment drove investors towards riskier assets.
Oil prices were mixed on Friday, with weak Chinese economic figures and rapidly filling US crude storage offsetting bullishness built on US President Donald Trump's outlines for the US economy to emerge from the coronavirus shutdown.
Medical doctor, researcher, philanthropist and business leader Patricia Kailis, who jointly established MG Kailis Group with her late husband, has passed away.
The Australian share market has finished higher across nearly all sectors, clawing back its losses from the last two days and narrowly missing closing at a new one-month high.
Western Australia records six new cases and one death from COVID-19, NBN Co announces a $150 million relief package for internet providers during the pandemic, and Health Minister Roger Cook flags the need to locate asymptomatic cases in the community.
The state government has said that classes will embark on a soft reopening in Term 2, as government and schools continue to debate whether teachers should have access to PPE.
The Australian share market has risen in early trade following a strong overnight performance by US giants Amazon and Netflix and ahead of looming Chinese GDP data.
Gold fell after climbing 1.3 per cent overnight, as safe-haven demand weakened after US jobless claims rose less than a week ago and hopes grew for an easing of coronavirus-led curbs.
Oil prices were mixed overnight, as Brent crude rose modestly while US futures ended unchanged at an 18-year-low after some European countries said they would relax coronavirus restrictions even though OPEC lowered its global oil demand forecast.
Australia's coronavirus restrictions will remain in place for four weeks. Health Minister Roger Cook has announced an expanded COVID-19 testing program in WA. The state has reported two new infections and an extra case from the Artania cruise ship.
The federal government has outlined seven principles for how public schools should respond to COVID-19, one day after Premier Mark McGowan reportedly began weighing whether to have classes return as normal in Term 2.
One of Western Australia's biggest employers, Crown Resorts, has stood down 95 per cent of its national workforce due to coronavirus restrictions affecting its casinos and hospitality venues in Perth and Melbourne.
