The Australian share market is flat at noon with gains in the big miners and gold miners being offset by weaknesses in banking shares.

Earlier in the morning, shares were slightly higher following on from a positive Wall Street close after the release of improved home sales data in the US.

At 1200 AEST, the S&P/ASX200 benchmark index was down 6.1 points, or 0.1 per cent, at 5948.3 points, while the the All Ordinaries index was 5.9 points, or 0.1 per cent lower, at 6063.4.

Shares in the big miners were in positive territory, after gains in metal prices overnight.

BHP was up 0.17 per cent to $35.70, while Rio Tinto added 0.06 per cent to $98.11 and Fortescue Metals advanced 0.64 per cent to $14.10.

Shares in gold miners were up, after gold prices surged to their highest mark since October 2012, driven by weakness in the US dollar.

Newcrest was up two per cent, while Evolution gained 4.47 per cent and Northern Star was 2.3 per cent higher.

Meanwhile the big four banks were all lower by less than one per cent.

Information technology was the strongest sector with a gain of 1.66 per cent, with utilities next, up 0.93 per cent.

Industrials and consumer discretionaries were down by more than one per cent.

Shares in Sonic Healthcare gained 3.83 per cent to $30.07 after management said full-year earnings before interest, tax, depreciation and amortisation would be at a similar level to the $1.075 billion of last year.

Sonic scrapped its guidance earlier this year due to COVID-19.

Village Roadshow shares were down by 1.8 per cent to $2.18, after it said its Sea World and Paradise Country theme parks will open on Friday, while Movie World and Wet’n’Wild will open on July 15.

Village cinemas in Melbourne will open in late July.

Shares in building giant Mirvac dropped 2.3 per cent to $2.33 after it said its second-half distribution will be 3.0 cents per share.

That is lower than the 6.3 cents per share for the same period last year.

The value of Mirvac’s investment properties has also dropped. The book value of 63 properties is down 2.8 per cent from December 31.

In the US, Wall Street’s three major indices closed higher after data showed new home sales in the US jumped 16.6 per cent in May, blowing past estimates of a 2.9 per cent rise.

However, the mood may have been dampened a little by a New York Times report that said European Union countries were prepared to block Americans from entering because the United States has failed to control the coronavirus pandemic.

The Australian dollar was buying 69.47 US cents at noon, up from 69.09 US cents at the close of trade on Tuesday