Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 12 February 2016

Gold making a comeback

It's been something of a lacklustre run since 2012 (see link), but with financial uncertainty the US dollar price of gold (and that of silver) is making a comeback hitting a 7 month high, with another strong move of around +4.3 per cent overnight. 

Whether or not you like the stuff, the move in the spot price is positive news for Australian exports, with gold accounting for 7.6 per cent of the Reserve Bank's Commodity Price Index weights, making the shiny metal Australia's 5th most valuable export commodity. 

After a bit of a pause, finally we get some exciting domestic figures to look at this morning.

Stay tuned!