Gold pared gains after rising to the highest in more than two years, as US equities reversed early losses, Treasury yields turned higher after hitting record lows and investors bought bullion as a haven from risk.
US stocks have reversed early losses to close higher, but bourses in most parts of the world fell on fears of instability in the European Union and global economic stagnation.
Oil prices settled up nearly two per cent as robust US economic data lifted crude futures from two days of declines, with the market extending gains in post-settlement trade on bets for a sharp drop in US crude stockpiles.
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Energy, resources and financial companies led the Australian share market lower on renewed fears about the economic implications of the UK Brexit vote.
Oil prices tumbled nearly five per cent on Tuesday as investors worried that Britain's exit from the European Union would slow the global economy, making it unlikely energy demand will grow enough to absorb a supply glut.
Gold prices rose for a fifth straight session and traded close to a two-year high above $US1,350, as weak China data and ongoing uncertainty following Britain's vote to leave the European Union triggered a fresh wave of demand for the safe-haven metal.
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The Australian share market has closed sharply lower with the biggest drag being the big banks in the wake of a signal from the banking regulator that they may have to lift capital ratios again.
Global oil prices eased on Monday after comments by Saudi Energy Minister Khaled Al-Faleh that the market was heading towards balance were tempered by slowing demand in Asia, pockets of gasoline oversupply and signs crude output could rise.
Gold edged higher on Monday as political uncertainty after Britain's vote to leave the European Union supported prices that had been propelled towards last week's two-year high by an overnight burst of short-covering activity in China.
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The Australian share market recovered from a nervous start to close higher despite the weekend's inconclusive federal election, boosted by the prospect of economic stimulus in Europe after Brexit.
Gold has risen one per cent, heading for its fifth weekly gain, supported by a weaker US dollar and prospects for further monetary policy easing in the wake of Britain's vote to leave the European Union.
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The share market has almost completely recovered the losses suffered in the wake of Britain's vote to leave the European Union after a third straight day of gains.
Gold has steadied as the other markets showed signs of stabilizing, but it remains on track for its biggest monthly rise since February in the wake of Britain's vote to quit the European Union.
Downward spike in resources sector claims another victimThe fallout from the slump in the resources sector continues to wash through the broader economy, with Stee
Stock markets around the world have rebounded for the second straight day as fears about last week's Brexit vote ease and investors wager central banks will ultimately ride to the rescue with more stimulus.
Gold has risen as the US dollar retreated and investor appetite for safe assets remained strong because of longer-term financial uncertainty after Britain's surprise vote to leave the European Union.
