Gold bounced back overnight, within a striking distance of the key $US1,800 per ounce level, as a sharp jump in COVID-19 cases boosted hopes for more accommodative monetary policy measures and demand for the safe-haven metal.
The Australian share market has closed flat despite strong overseas leads as traders ponder the impact of a sharp rise in new coronavirus cases in the country's second-most populous state.
The Reserve Bank of Australia has kept the cash rate at a record low 0.25 per cent at its monthly board meeting as it assesses the extent of recovery after the coronavirus-driven economic downturn.
Shares have gained about 1.0 per cent early in trade on the Australian market after solid gains on Wall Street overnight following a rebound in US services industry activity.
Oil futures ended largely steady overnight as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices.
Gold overnight edged towards a near 8-year high hit last week as a spike in coronavirus cases kept safety demand elevated, although robust equities and positive US services sector data limited the metal's advance.
Shares in SRG Global closed up nearly 30 per cent today after the company forecast strong 2021 financials and brought forward its previously-deferred interim dividend.
Business News is launching a more personalised, user-friendly website, has redesigned its daily emails, and strengthened its editorial team with an experienced hire, in a bid to triple subscriptions sales.
The Committee for Economic Development of Australia has announced it will cut staff as part of what it is characterising as a broader operational transition.
