Gold is holding steady near a five-month peak as expectations for fewer interest rate hikes by the US Federal Reserve next year supported the non-yielding precious metal.
The S&P 500 and the Dow have closed marginally lower after volatile trading as investors swivelled their focus between China-US trade talks, President Donald Trump's threat to shut down the US government and political uncertainty in Britain.
Gold edged lower as the US dollar firmed against the pound on doubts about Britain's departure from the European Union, but falling equities and prospects of a slower pace of US interest rate hikes in 2019 kept bullion near a five-month peak.
Oil prices have fallen nearly two per cent, echoing the weakness in global stock markets as the focus returned to demand growth concerns and crude prices erased some of the gains made last week on an OPEC-led decision to cut output.
The state government has assured fishing industry representatives it has no plans to change how it determines catch limits across the sector after a surprise move last week to create, and take control of, new licences for local lobsters.
Wall Street has tumbled in a broad sell-off led by declines in big internet and technology shares, and the benchmark S&P 500 index posted its biggest weekly percentage drop since March as concerns over US-China trade tensions and interest rates convulsed Wall Street.
Oil prices ended the week more than two per cent higher after OPEC members and allies like Russia agreed to reduce output to drain global fuel inventories and support the market, but the gains were
Gold hit a five-month peak as the dollar slid following weaker-than-expected US jobs data, which added to expectations that the US Federal Reserve may go slow on interest rate hikes next year.
Gold has risen to near a five-month peak on a weaker dollar and on expectations the pace of US interest rate hikes will slow, with the bullion also getting support from falling equities.
Oil fell about three per cent in choppy overnight trade after OPEC and allied exporting countries ended a meeting without announcing a decision to cut crude output, and prepared to debate the matter the next day.
US stocks have closed slightly lower, but well above their session lows, as the arrest of a Chinese technology executive fanned fears of US-China tensions over trade, while some beaten-up big technology and internet shares posted gains.
The state budget will be in surplus in 2019/20, according to Premier Mark McGowan, while a $421 million expansion of the Keystart program for first homebuyers and a move to reduce red tape will be two new policies to support the local economy.
Opinion: All signs point to a tough year ahead as international trade events meet tightening credit conditions amidst falling house prices and likely changes to negative gearing.
Gold has slipped on expectations of more interest rate hikes following remarks from a US Federal Reserve official and as some investors booked profits after prices hit their highest in more than five weeks.
Global stocks have fallen, plagued by a flattening yield curve that sparked concerns about an economic slowdown in the United States and weakening expectations of a lasting US-China trade truce, while the US dollar steadied.
Oil prices dipped overnight ahead of a meeting of the world's biggest exporters, who will discuss cutting output to help shore up prices and curb excess supply.
A 10 per cent surge in the level of business investment in machinery and equipment has helped Western Australia's state final demand grow 0.4 per cent in the September quarter, as national economic data surprised on the downside.
Wall Street has tumbled more than 3 per cent, led lower by bank and industrial shares, as the US bond market sent unsettling signs about economic growth and investors worried anew about global trade.
Oil prices pared gains in a volatile trade overnight as fears flared that demand would stall due to a trade war between the US and China, and that Russia remained a stumbling block to a deal to cut global crude supply.
The Reserve Bank has kept the official cash rate at a record low and reiterated its economic growth forecasts, but is keeping a close eye on the stumbling east coast housing markets.
Oil prices jumped nearly four per cent after the United States and China agreed to a 90-day truce in a trade dispute and Canada's Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.
Gold gained one per cent overnight, hitting its highest in more than three weeks, boosted by a sell-off in the dollar after the United States and China called a truce on fresh trade tariffs for 90 days.
