SYDNEY — Gold is set to surpass metallurgical coal as Australia’s third-most valuable export as investors seek safe assets, spurred by U.S.-led trade tensions, concerns over America’s fiscal position and conflict in the Middle East, government data showed Monday.
An Australian government report predicted earnings from the precious metal to increase by 10 billion Australian dollars ($6.54 billion) in fiscal 2026 to AU$56 billion, with its per-ounce price surpassing a record of $3,400 during the second quarter of the year.Â
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