Renewed strength: Gold is displayed at Hatton Garden Metals precious metal dealers in London. Spot bullion hit a record above US$3,976 an ounce on Tuesday, with prices up by more than half this year. — Reuters
SYDNEY: Gold will become Australia’s second most valuable export commodity, overtaking liquefied natural gas (LNG), after the precious metal’s “extraordinary surge” to record prices, the government says.
Revenues from bullion will jump to A$60bil in 2025-26, the 12 month period to next June, up from A$47bil in the prior year, and almost double the total two years ago, the Department of Industry, Science and Resources said in a report.
