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.