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The Australian share market has hit its highest level since late July, with gains across the board as traders bet that the country's sluggish economy will lead to another cut in the official cash rate.
Oil prices were mixed overnight as US crude futures were pressured by a build in domestic inventories and record production while forecasts from the Organisation of the Petroleum Exporting Countries for a lower-than-expected oil surplus supported Brent.
Gold prices rose on Thursday as investors remained concerned about the imminence of a trade deal between the United States and China, while a slip in riskier assets and the US currency further supported the metal.
Oil prices edged up overnight after the Organisation of the Petroleum Exporting Countries said it saw no signs of global recession and rival US shale oil production could grow by much less than expected in 2020.
Oil prices were little changed overnight after paring gains of about 1.0 per cent following a speech from US President Donald Trump that offered few new details about his country's trade talks with China.
Gold slipped overnight to its lowest in more than three months on increased appetite for riskier assets while US President Donald Trump failed to provide any information on the trade deal with China in his speech.
Gold fell overnight to its lowest in more than three months, dragged below technical support as upbeat risk sentiment kept US stock indexes close to record levels, while investors awaited news on the US-China trade talks.
BHP Group's petroleum division head says the business is set to deliver strong returns and cash flow through the 2020s and beyond, supported by a raft of high-potential projects, including the Scarborough gas project in which it holds a 25 per cent stake.
Gold extended losses to a three-month low on Friday as positive developments in US-China trade talks tarnished the metal's safe-haven appeal, putting it on track for the biggest weekly decline in three years.
Woolworths underpaid its employees by as much as $300 million over almost a decade, only discovering it had been keeping the cash when shocked store managers complained they were earning less than their staff.