Market News Update - 27th August 2012

Dear Friend/ Member,

In the last week we have seen Gold's biggest weekly gain since January, currently trading at around USD$1,677 (and about AUD$1,610).

(Chart courtesy of http://www.ausmint.com Member Zone)

So what's been going on?

We really have been plodding through July and August with volumes down and very little volatility. This is not a surprise as a rule of thumb in the industry we do expect July and August volumes to be down by 30% on the rest of the year.

Perhaps it was this normal trend of inactivity and with northern hemisphere folks on holiday, along with the euphoria of the Olympics... well that's coming to an end.

In the meantime nothing has improved in Europe.

September is typically a high volume month so it will be interesting to see if the sparks fly.

Well, it's the last week in August and the sparks are flying, watch this space... September could be a very interesting month for Precious Metals.

We are looking forward to  the August Precious Metals Report by Edward Meir, due out in the first week of September.

Edward Meir - AusMint's Commodities Expert

Like many people in the USA this month, Edward took time off for a well earned holiday.

Edward will be back for next month, so look out for his report at the beginning of September.

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