Record Diwali Gold Demand

Precious Metals Commentary (week ending 1st November 2019)

Gold bulls had a win in the ongoing battle for the USD$1,500 level with a break north to $1,512 and silver following just above $18. Local prices were somewhat unchanged with the AUD/USD jumping to 69c.

This week, we look at:

  • A King World News-ish bullish report from ANZ
  • Record Diwali gold demand in Australia
  • Platinum positioned for a reversal, in the long-term
  • Government and RBA to help housing markets with QE and low rates

Australian Credit Growth Chart

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