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Oil futures slipped overnight as the market braced for reports expected to show swelling US crude inventories, which pulled prices back from the highest levels since before the coronavirus pandemic slammed fuel demand.
Gold prices surged to their highest mark since October 2012 on Tuesday, driven by weakness in the US dollar and widespread monetary stimulus packages by central banks as a jump in coronavirus cases dented the economic outlook.
The Australian Securities and Investments Commission is suing the Commonwealth Bank and subsidiary Colonial First State Investments over a banking royal commission finding that the latter paid bank staff to promote a superannuation product to customers.
Woolworths expects full year earnings could be 2.7 per cent lower after it outlined one-off charges worth $591 million for restructuring and staff underpayments and incurs additional costs related to COVID-19.
Gold prices climbed 1 per cent overnight to hit the highest level in more than a month, as investors took refuge in the safe-haven metal after an uptick in coronavirus cases dampened hopes for a quick economic recovery.