Gold has risen to its highest level in two and a half months as a slide in global stock markets, exacerbated by mounting tensions between Western powers and Saudi Arabia, forced investors to find safety and unwind some bearish bets in the metal.
Oil prices have steadied, supported by geopolitical tension over the disappearance of a Saudi journalist that has stoked worries about supplies from the world's top crude exporter, but weighed by concern over long-term demand outlook.c
US stocks have fallen at the open as an increase in tensions between Western powers and Saudi Arabia added to worries over rising borrowing costs and the impact of tariffs, following the main three indexes' biggest weekly declines in over seven months.
Coles' supermarket sales have jumped during the first quarter, with parent company Wesfarmers citing a successful 'Little Shop' campaign, and investment in flybuys promotions, as preparations continue for a vote on the chain's proposed demerger.
An already-bruised Australian share market is ignoring a lead from Wall Street and a commodity price rebound to dive lower at the open, with the banks and miners weighing heavily amid broad-based losses.