Gold prices were steady overnight, having earlier hit their highest in nine months after the US Federal Reserve kept interest rates steady and said it would be patient on further hikes, keeping bullion on track for a fourth-straight monthly gain.
Oil prices have risen for a third straight day as production cuts curbed supply from OPEC and its allies, and US monetary policy appeared to be more favourable.
A strong performance by the energy and mining sectors was not enough to save the Australian share market from being weighed down by troubled financials at the close.
Clean technology company Eden Innovations has announced it is planning to raise $9.8 million through a share placement and rights issue after running down its cash balance to $1.35 million at the end of December.
Australian shares are up at the start of trade, with the big miners and energy companies leading the way thanks to a continued rise in iron ore and oil prices.
Oil prices have risen after US government data showed signs of tightening supply and investors remained concerned about supply disruptions following US sanctions on Venezuela's oil industry.
Gold has inched lower but stayed close to its highest in more than eight months as the US dollar ticked up on better-than-expected US private-sector jobs data and investors waited to hear about the Federal Reserve's decision on monetary policy.
US stocks have surged after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.
The Supreme Court has this week dismissed two separate appeals, by manufacturer Best Bar Reinforcements and a Harvey Norman franchisee, finding both companies were liable for workplace incidents.
Oil prices have gained more than two per cent after the United States imposed sanctions on state-owned Venezuelan oil company PDVSA, a move likely to reduce the OPEC member's crude exports and relieve some global oversupply worries.
Gold has jumped to its highest in more than eight-months, on doubts surrounding US-China trade relations and ahead of a Federal Reserve meeting with increasing expectations for a pause to the central bank's rate hike trajectory.
Wall Street has been mixed, with technology shares dipping before Apple's quarterly report while a rebound in 3M and other industrials elevated the Dow Jones Industrial Average.
Marine services company TAMS Group has been awarded the tender for the replacement of Berth 3 deck and fender in Port Hedland six months after previous contractor York Civil went into administration.
Tech millionaire Eugeni “Zhenya” Tsvetnenko was denied bail this morning at the Perth Magistrates Court after being arrested on fraud charges in the United States.
Australian shares have continued to slip under pressure from the heavyweight financial sector, while subdued business confidence has hit the local dollar.
US stocks have tumbled after warnings from Caterpillar Inc and Nvidia Corp added to concerns about a slowing Chinese economy and tariffs taking a bite out of US corporate profits.
Gold was little changed on Monday, hovering near the $US1,300 mark as investors awaited further developments on the US-China trade dispute and the Federal Reserve's interest rate trajectory.
Oil has fallen more than three per cent, heading for its biggest one-day percentage drop in a month due after an increase in US crude drilling pointed to further supply growth.
The Australian share market has powered into Friday's close on a ten-week high thanks to strong performances by the energy and financial sectors despite AMP's woes.
AMP has flagged a 96 per cent drop in full-year profit and a drastically smaller final dividend after confirming it will set aside another $200 million to cover the cost of customer remediation related to issues heard at the banking royal commission.
Gold has steadied following initial losses, supported by uncertainties surrounding the government shutdown in the United States and its trade relations with China, but gains were capped by a stronger dollar.
US oil prices have risen by one per cent, boosted by the US threat of sanctions on Venezuela, but gains were capped by record high gasoline inventories and an unexpected big build in crude stocks in the United States.
Former advertising executive Al Taylor has been appointed chief executive of hospitality and brewing business Triple-1-Three, which was set up by former Sunset Events directors David Chitty and James Legge.
