RBA keeps rates on hold

Spot pricing for Gold $AU4232

Spot pricing for Silver $AU50.22

Spot pricing for Platinum $AU1492

With little surprise the RBA has kept interest rates on hold leading into Christmas this year. With the cash rate at 4.35%, most Aussies are still chasing their big mortgages at around 6% (or more) per annum. It has now been quite a while since we’ve seen ‘leftover cash’ from weekly earnings, so this holiday season is looking somewhat thin for many.

Flipside, credit use is up (which excites many) with US and Australian’s now starting to use money they don’t have to buy gifts and travel for the holiday season. As we’re at the peak of monetary tightening in Australia, we’d generally see consumers reach for their credit card in the hope of surviving without sacrificing the standard of living they are used to. Here’s hoping our readers are not making this mistake.

Gold and Silver are showing strength against a weakening ASX200 and US500, both having 3-4 days of gains.
 Silver in AUD pushed through $AUD50, showing a strengthening GSR.

Enjoy today’s charts.  

Gold daily chart, with 200MDA

Silver daily chart, with 200MDA

US500, with 200MDA 

ASX200, with 200MDA