What Backs a Dollar?

Precious Metals Commentary (week ending 8th November 2019)

A significant pullback in precious metals prices on the back of thawing US-China trade tensions, with gold dropping 2.9% and silver 5.5%. Combined with an Australian Dollar above 0.689, it presents a decent sized pullback for those waiting on lower prices to top up.

This week, we look at:

• How few people know what backs money
• A spluttering Australian economy
• How inflation hurts the poor more than the rich
• Why being penniless at 100 is a step backward for society

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