Gold prices have risen nearly two per cent, the biggest percentage gain since June, as disappointing US economic data reinforced speculation the Federal Reserve will not raise interest rates at its September policy meeting.
Global benchmark Brent crude has fallen more than half a per cent as hopes wane for an agreement between two of the biggest oil producers to freeze output to tackle a global supply glut.
Row escalates over China claimsMalcolm Turnbull says Australia’s prosperity and stability are at stake if rising tensions in the region caused by China’s territorial claim
The Australian share market lost further ground in afternoon trading, hurt by falls across financial, telecom and resource companies as the Reserve Bank of Australia left interest rates unchanged.
Crude oil futures has touched a one-week high before paring gains after top producers Russia and Saudi Arabia confirmed they had agreed to co-operate on stabilising the oil market, and raised hopes of limiting output in the future.
Gold has held steady, close to a one-week high touched in the previous session, as the US dollar dipped on receding expectations of an imminent interest rate rise but the yellow metal's gains were capped by stronger global stocks.
Beijing on notice over steel glutChina has been put on notice over its creation of a worldwide steel glut, with the Group of 20 leaders agreeing to establish a global foru
The Australian share market has made some solid gains as the prospect of an interest rate hike in the US in September was pared back following some weaker-than-expected US jobs figures on Friday night.
The Reserve Bank is likely to hold its benchmark interest rate steady at its meeting tomorrow, with the main focus set to be on potential signals of future moves.
Gold has risen more than one per cent after US jobs growth came in below expectations, dampening the likelihood of an interest rate hike from the Federal Reserve this month, but bullion pared gains after the US dollar turned positive.
PM firm in China stand-offMalcolm Turnbull has reemphasised Australia’s view that there can be no regional prosperity without peace as the stand-off between China and the
Gold has turned higher after tapping the lowest level in more than two months, as the US dollar fell on unexpectedly weak US manufacturing data that raised doubts about the economy's strength.
Oil prices have fallen more than three per cent, heading for their sharpest weekly slide since January as investors brushed aside talk that OPEC might freeze production and focused on a growing glut from US crude stockpiles.
PM warns G20 on low global growthPrime Minister Malcolm Turnbull will argue against a retreat towards protectionism at the Group of 20 leaders summit in China, as the Inte
US and European shares fell as a drop in oil prices weighed on energy stocks, while two-year US Treasury yields ended August with the biggest monthly increase since November on growing expectations the Federal Reserve will raise interest rates.
Gold has fallen to a two-month low after forecast-beating US jobs data stoked speculation that the Federal Reserve will move ahead with plans to raise its official interest rate, briefly propelling the US dollar index to its highest in three weeks.
Labor kept at bay over banksThe Turnbull government has thwarted Labor ‘s latest push for a royal commission into banks by promising an inquiry into specific cases of alle
The share market has closed weaker as a higher US dollar hurt resources and energy stocks and investors chose caution ahead of key US jobs numbers that are likely to help determine the timing of a hike in US interest rates.
