Gold prices have climbed to two-month highs, rising for the fourth straight day as investors sought refuge amid escalating tensions between North Korea and the United States, while bullion also received support from weak US inflation data.
Increasing tension between the US and North Korea has sparked a widespread sell-off that has wiped almost $23 billion from the Australian share market.
Escalating tension between the US and North Korea has helped drive Australian shares sharply lower in early trade, following in the footsteps of international markets.
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Oil prices have fallen more than 1.5 per cent, as a bruising day on Wall Street bolstered fears of slowing demand amid lingering concerns over a global oversupply of crude.
The price of gold has risen for the third straight day, reaching a two-month high as another exchange of threats by the United States and North Korea prompted investors to buy bullion as a safe-haven asset.
The Australian share market has run out of puff following a softening in US futures as tensions between North Korea and the United States hit investor confidence.
Australian shares have opened higher, shrugging off the negative lead of international markets hit by concern over increased tension between the US and North Korea.
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Oil prices have risen per cent higher after a report shows US refineries processed record amounts of crude in the past week, eating into inventories, although a surprise jump in petrol stockpiles limited price gains.
Gold has risen to the highest in nearly two months, after North Korea said it is considering an attack on the US Pacific territory of Guam and US President Donald Trump boasted of the strength of the American nuclear arsenal.
The Australian share market has gained ground as Commonwealth Bank's record annual profit was well received, and the Australian dollar fell sharply amid political tension and a weaker iron ore price.
Australian shares have opened higher as investors, pleased with the Commonwealth Bank's bigger-than-expected full-year cash profit, helped fuel a big rise in banking and mining stocks.
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Oil prices have dipped as a rebound in production from Libya's largest oil field prompts selling, and investors worry about higher output from OPEC and the United States.
Gold prices are little changed, failing to gain support from a weaker US dollar as investors digest sharp losses in the previous session and worried about further US rate rises.
The Australian share market has closed higher after the embattled Commonwealth Bank regained some lost ground, prices for iron ore and oil lifted, and better-than-expected jobs data out of the US boosted Wall Street over the weekend.
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The Australian dollar is virtually unchanged against its US counterpart despite the greenback getting a significant boost from surprisingly good key US jobs figures.
Oil prices rose after a strong US jobs report bolstered hopes for growing energy demand, but crude prices declined for the week, pressured by rising OPEC exports and strong US output.
Gold has fallen one per cent after better-than-expected US jobs data boosted the beleaguered dollar and potentially cleared the way for the US Federal Reserve to raise interest rates for a third time this year.
Tabcorp has slipped to a full-year net loss of $20.8 million on the back of costs related to its proposed merger with Tatts, legal battles and its new UK business.
