Gold fires
Export prices bounced modestly over the past quarter, up 3.6 per cent, but were down -8.6 per cent through 2024 overall.
Import prices were modestly lower over the year, down -1.9 per cent, with the recent weakness due to petrol prices and telco equipment.
Unsurprisingly, the drop in export prices was down to Australia's main export commodities, being the bulk commodities of iron ore and coal, as well as gas prices well down from their pandemic highs.
One amazingly bright spot has been the gold price, which has bolted to all-time highs, rising 10 per cent on the export price index in 2024, and making new all-time highs today.
Gold has traditionally been seen as a hedge against uncertainty and inflation, and as the money printer fired up in 2020 the gold price has been on a tear.
Former star trader Gary Stevenson of Gary's Economics - who, to be honest has been right about everything else through the past few years - explains why you need to aim to own a home in the current environment:
Why you need to own your home. pic.twitter.com/vajNh37hiY
— Gary Stevenson (@garyseconomics) January 27, 2025
