ABC Bullion Monthly Market Update

In This Week's Market Update:

Precious metal markets continued to trade strongly this week, with gold climbing back above USD $2,900 per troy ounce (oz), while silver is approaching USD $33oz.

In Australian dollar terms, gold is currently trading above AUD $4,600oz, while silver is sitting near AUD $52oz, with robust levels of turnover and demand from new clients seen at ABC Bullion this week.

The moves in precious metal markets are occurring against a backdrop of heightened volatility in financial markets, with bond yields in Europe spiking, while stocks and cryptocurrencies are falling, with the S&P 500 -2.35% in the past five days (and now negative YTD), while Bitcoin is back below USD $90,000 per coin.

The latest developments in precious metals as well as broader financial markets make it the opportune time for ABC Bullion to be releasing its latest monthly market update, which features our latest analysis on a range of factors, including;

• Precious metal performance trends

• Where gold sits vs the equity market on a short and long-term basis

• Gold’s changing relationship with the bond market and real yields

• Investor positioning

For precious metal enthusiasts, we also have the latest Pod of Gold, featuring my colleague Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery.

Jordan Eliseo
General Manager, ABC Bullion Australia

^{Disclaimer: This document has been prepared by Australian Bullion Company (NSW) Pty Limited (ABN 82 002 858 602) (ABC). The information contained in this document or internet related link (collectively, Document) is of a general nature and is provided for information purposes only. It is not intended to constitute advice, nor to influence any person in making a decision in relation to any precious metal or related product. To the extent that any advice is provided in this Document, it is general advice only and has been prepared without taking into account your objectives, financial situation or needs (your Personal Circumstances). Before acting on any such general advice, we recommend that you obtain professional advice and consider the appropriateness of the advice having regard to your Personal Circumstances. If the advice relates to the acquisition, or possible acquisition of any precious metal or related product, you should obtain independent professional advice before making any decision about whether to acquire it. Although the information and opinions contained in this document are based on sources, we believe to be reliable, to the extent permitted by law, ABC and its associated entities do not warrant, represent or guarantee, expressly or impliedly, that the information contained in this document is accurate, complete, reliable or current. The information is subject to change without notice, and we are under no obligation to update it. Past performance is not a reliable indicator of future performance. If you intend to rely on the information, you should independently verify and assess the accuracy and completeness and obtain professional advice regarding its suitability for your Personal Circumstances. To the extent possible, ABC, its associated entities, and any of its or their officers, employees and agents accepts no liability for any loss or damage relating to any use or reliance on the information in this document. It is intended for the use of ABC clients and may not be distributed or reproduced without consent. © Australian Bullion Company (NSW) Pty Limited 2020.}