Precious Metals Start New Financial Year on Strong Footing!

Precious metal markets have started the new financial year in positive territory, with gold last trading at USD $3331oz. That is an increase of just over 1.30% compared to the 30^th of June LBMA PM price.

Silver has also rallied since 30^th June, rising by just over 2% to USD $36.75oz, with the gold to silver ratio now sitting at 90.

The market continues to be supported by strong central bank demand, persistent if not spectacular inflows into gold ETFs, and strong retail physical demand in select gold markets.

This includes Australia, with ABC Bullion continuing to see strong interest in precious metals, evidenced through very high levels of new account creation, high trading volumes across our Australia-wide client base, and continued adoption of programs like the ABC Bullion Gold Saver.

For this market update, we wanted to share the latest Pod of Gold, featuring my colleague Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery.

The episode, titled; “Geopolitical Tensions, Gold, and the US Debt Outlook”, was recorded on 30^th June, and in 15 minutes covers a range of topics that are relevant to precious metal markets, and investors in gold, silver and platinum.

Timestamps for the podcast are included below:

• 00:00 – Introduction

• 01:16 – Recent market activity

• 02:05 – Discussion on Iran-centric events and gold/crude rally

• 05:04 – Impact on physical gold demand in Asia-Pacific

• 06:02 – Managed money positioning in gold

• 07:58 – Short and medium-term gold price targets

• 10:12 – Analysis of the US Dollar and debt landscape

• 11:44 – Gold and The New World Order

• 12:02 – Summary and key takeaways

Look out too for a special promotion for the upcoming ABC Bullion Precious Metal Forum.

Jordan Eliseo
General Manager, ABC Bullion Australia

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