Australia is also the world’s third-largest gold producer and the biggest net exporter of the precious metal. (File pic shows gold mining in Australia)
THE rally in commodity prices is likely to see a shift from metals to energy resources such as crude oil, liquefied natural gas (LNG) and coal, according to the latest forecasts from the Australian government.
While the June quarter report from the Department of Industry, Science, Energy and Resources doesn’t foresee a major retreat in the prices of metals such as copper, iron ore, zinc, aluminium and nickel, it does forecast stronger performances from energy commodities.
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