Oil prices rose at the end of last week as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market, offsetting concerns about US-China trade tensions and supply increases.
Gold prices rose from one-year lows and spot platinum increased more than three per cent after US President Donald Trump criticised the strength of the dollar and interest rate increases by the Federal Reserve, pushing the greenback sharply lower.
Australian shares have ended the week higher thanks to gains in financials and energy stocks, even as Friday's session was buffeted by an earlier slide in the Chinese yuan and concerns over escalating global trade tensions.
US stock indexes are trading lower as a batch of weak quarterly reports dampened a robust earnings season and trade tensions rose on news the European Union may retaliate if the US slaps tariffs on EU cars.
Gold prices sank to a one-year low on Thursday as the US dollar rose after comments from Federal Reserve Chairman Jerome Powell that reaffirmed expectations more US interest rate increases are on the way this year.
Lithium advocates have been cautioned to separate facts from hype as it is not yet clear if battery manufacturing in Western Australia will be practical, although refining plans should proceed immediately, according to Mckinsey & Co partner Prabhav Sharma.
Oil prices rose on Wednesday after US government data indicated bullish demand for gasoline and distillates, which overshadowed a surprise build in US crude inventories and US crude oil production hitting 11 million bpd for the first time.
Gold prices have steadied as the US dollar eased off a three-week high, following an earlier drop in bullion to a one-year low as bullish comments from US Federal Reserve Chair Jerome Powell boosted the greenback.
Wall Street has risen as Federal Reserve chairman Jerome Powell's optimistic view on the US economy and solid earnings from Dow component Johnson & Johnson lifted expectations of a robust second-quarter earnings season.
The S&P 500 has ended slightly lower following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America's results reinforced expectations of a strong US earnings season.