Go, Aussie Debt, Go!

Precious Metals Commentary (week ending 2nd August 2019)

No breather for the metals this week with fresh Trump tariffs causing gold to spike to $1,449 and silver gaining ground back to $16.23. The US price move combined with a falling Aussie dollar pushed AUD gold to record highs of $2,105 and silver close to $24.

This week, we look at:

• A non-renew of a central bank non-agreement on gold sales
• The US Federal Reserve’s farcical “insurance” interest rate cut
• China’s economic troubles driving local gold buying
• Australia’s debt outperformance

 Read the full report by ABC Bullion's John Feeney and Bron Suchecki here.