Aussie shares trim losses, gold bounces on truce hopes

Australia's share market trimmed early losses to end the session roughly flat. The S&P/ASX 200 closed little changed after a volatile session that saw selling pressure ease through the afternoon.

Oil prices fell as hopes for a diplomatic resolution to the re-escalation of the US-Iran conflict grew. Gold bounced off earlier lows, recovering as traders reduced safe-haven bets on crude while rotating into the metal. The moves came after a week of heightened tensions that had driven both assets sharply.

The session marked a pause in the recent risk-off shift, with the local benchmark steadying after a weak open. Broader Asian markets also showed mixed signals as the truce narrative competed with lingering supply concerns from the Middle East.