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AAP

Business

Derek Rose

Australian shares higher as gold hits record high

Gold CSL United States SEEK Reserve Bank Temple Webster Westpac

The price of gold has hit a record high because of the geopolitical risk of a Mideast war. (Dan Himbrechts/AAP PHOTOS)

The Australian share market has edged higher in its third straight day of gains, with losses by CSL and Seek outweighed by gains from the big banks and retailers.

Goldminers did particularly well after the precious metal hit a record high amid growing fears of war between Iran and Israel, while lithium companies lost ground.

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