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Metals surge…

•By Jody Fewster
  • Geopolitical tensions remain high, with flare-ups in several countries and new uncertainty in the Middle East.
  • China announced moves to shore up its property market by removing the floor on mortgage rates, cutting the minimum down payment requirements for individual home buyers, and encouraging local governments to acquire homes and convert them to affordable housing.
  • Metals prices have rallied on the news. The year-to-date performances of Copper, Silver, and Gold have been extraordinary (Copper +33%, Silver +32%, and Gold +17%).
  • Positive inflation news out of the US that met expectations gave markets a push, with the Dow Jones hitting a record high of above 40,000 on Friday.
  • The rally in energy and mining stocks pushed the S&P/ASX 200 to within 40 points of its record closing yesterday (March 28 peak of 7,870.30). It’s at 7,851 as I type.
  • The Aussie Dollar is at US .67c.
  • The national jobless rate rose to 4.1% with the WA unemployment rate remaining at 3.9%.
  • Some small reprieve for renters as the vacancy rate is up slightly at 1% from 0.4%. No great joy for house hunters, though, with the number of homes for sale still at just over 2,000.
  • Contact me for a private conversation about how these tight market conditions might affect your home or investment property.
Please call 0414 688 988 if I can provide you with a current market appraisal and detailed marketing plan for your home or investment property. Please click here to read some of my testimonials.
Authored by Jody Fewster
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