Turbo boosting your Precious Metals purchase
An often overlooked element of investing in precious metals by new comers is the AUD / USD dynamic. A recent BusinessDay survey predicted an Aussie dollar of 86c by 30 June 2015. In recent months the AUD has been trading between 93c and 94c. Gold and Silver spot prices are determined in USD so without any change in the spot metal price, those that buy in AUD now would see a 9% increase in the value of their metal in AUD terms. Combining that with any increase in the PM spot prices which have a host of compelling fundamentals in their corner, and it gets pretty exciting.
The BusinessDay forecasting panel comprises 25 of Australia’s leading forecasters in the diverse fields of market economics, academia, consultancy and industry associations. It includes several former Treasury forecasters. Over time its average forecasts have proved to be more reliable than those of any of individual member