Business
ASX to rise, Wall St stumbles, gold loses lustre – The Australian Financial Review
Australian shares are poised to open higher, despite weakness on Wall Street and in oil, iron ore and gold. $A slips on rising $US. Bitcoin eyes $US60,000.
Benchmark oil is flirting with a $US63 a barrel handle, gold slid below $US1700 an ounce. Bitcoin was hovering near $US59,000 shortly after 5am AEDT.
Its been a particularly tough time for gold and Capital Economics John Higgins sees more hurdles: We expect the price to fall further as the US real yield curve continues to steepen.
Mr Higgins sees the price of gold sliding towards $US1600 by the end of 2021.
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