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

Gold chart

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