Business
Fear and cheap money send gold price soaring – The Australian Financial Review
Gold’s surge past its 2011 high leads a stealth rally in Bitcoin and government bonds that tell a more ominous story than the performance of the equity market suggests.
The Australian Office of Financial Management’s forthcoming 30-year bond auction attracted $20 billion of orders on Monday, which could be exceeded before the deal is ruled off on Tuesday. Huge offshore interest in Australian government debt is enabling the Morrison government to fund JobKeeper, JobSeeker and pay for a record $185 billion deficit.
Gold’s rally has also elevated the place of gold as one of Australia’s most important but volatile exports: the economy shipped $2.29 billion of gold…
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