Oil prices extended their gains overnight, with Brent rising above $US61 a barrel as a surprise drop in US crude inventories and the prospect of further market-supporting action by OPEC and its allies offset some concern over the outlook for demand.
Gold scaled a near two-week peak overnight after weak economic data from the United States raised expectations for another interest rate cut by the Federal Reserve while platinum jumped to its highest level in more than three weeks.
Oil rose about 2.5 per cent overnight after government data showed a surprise draw in US crude stocks and as the prospect of deeper output cuts by OPEC and its allies offered support.
Gold gained overnight as some investors sought refuge in the metal after UK MPs pushed the pause button on Brexit while expectations of further monetary easing by central banks lent further support.
Rio Tinto could close an unprofitable aluminium smelter on New Zealand's South Island after prices dropped more than 30 per cent over 18 months amid oversupply of the metal.
Gold steadied in a tight range overnight as investors adopted a cautious approach ahead of a crucial Brexit vote while focus shifted to the US Federal Reserve's stance on interest rate cuts.
Rio Tinto's 22-year relationship with Black Swan State Theatre Company has come to an end, as it was announced at the theatre company's season launch last night that Fortescue Metals Group will step in as its new principal partner.
Oil prices fell nearly 1.0 per cent overnight after comments from a US official fed concerns surrounding the US-China trade conflict, adding to worries that a slowing global economy would reduce demand for oil.
Gold eased overnight on improved appetite for riskier assets, while investors awaited further clarity from the US Federal Reserve on more possible interest rate cuts this year.
WA Super has announced it will invest $20 million in the WA Impact Fund, as part of its membership of the newly founded Impact Investment Alliance of WA.
Oil prices edged lower on Friday as concerns about China's economy outweighed bullish signals from its refining sector but losses were limited on hopes for progress toward a US-China trade agreement.
Gold steadied on Friday, helped by a weaker US dollar, with the possibility of a no-deal Brexit, uncertainties over US-China trade and fears of a global slowdown keeping bullion on track for a small weekly gain.
Former deputy prime minister Julie Bishop has urged Australia to act as a voice of moderation on international trade, criticising the US for exacerbating threats to the rules-based world order.
Oil prices rose about 1.0 per cent overnight after draws in US fuel inventories but gains were capped by a larger-than-expected rise in crude stockpiles and a series of weak economic figures.
Gold rose overnight as weak data from the United States rekindled fears of an economic slowdown and as concerns surfaced over possible risks to a new Brexit deal while supply-squeezed palladium continued its record run.
