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Banking on Australian gold revival

Debate about the outlook for gold prices has become more animated of late with the major investment banks seemingly evenly divided in the bull and bear camps, and increasingly divided on things like US interest rates, equities and its economic outlook. That could just mean gold stays pretty much where it is in US dollar terms, in a far less volatile trading range than recent years, which is what the Commonwealth Bank global head of natural resources, Grant Willis was plumping for this week in a briefing. Combined with the continuing strength of the USD against most other major currencies, that’s good news for gold producers in Australia where Willis is based.

Willis’ bearish tendencies were reserved for the Australian currency, which after riding the resources boom to unprecedented strength against the USD not so long ago has been on a downward trend for



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