Housing Weakness Deepens as Precious Metals Prepare for a Turn

After months of resilience, Australia’s housing market is continuing to soften, with the latest property data confirming that prices were already easing before the Federal Budget was handed down. While recent taxation changes and investor uncertainty have added to the cautious mood, the charts suggest the slowdown was already underway as higher interest rates and stretched affordability continued to weigh on buyers.

The precious metals market is also at an important crossroads. Gold and silver remain below their respective 50-day moving averages, with both struggling to regain the momentum seen earlier this year. Despite the subdued price action, sentiment among technical analysts is beginning to shift. Momentum indicators have stabilised, selling pressure appears to be easing, and an increasing number of market commentators believe the recent correction may have established a durable bottom.

If that view proves correct, investors could be entering the early stages of a new bullish cycle. Gold continues to benefit fro

m stubborn inflation, elevated government debt and ongoing geopolitical uncertainty, while silver may receive an additional boost from growing industrial demand tied to renewable energy, artificial intelligence infrastructure and advanced manufacturing.

For now, confirmation remains the key. A decisive move back above the 50-day moving average would strengthen the case that the correction has run its course. Until then, investors are watching closely for signs that precious metals are ready to reclaim their longer-term upward trend, even as Australia’s property market continues to lose momentum.

Gold Futures Technical Analysis  

Technical indicators for Gold Futures suggest a BUY on monthly analysis.  

Technical Indicators – Monthly Projections  

Enjoy today’s charts 

Gold daily chart, with 50MDA

Silver daily chart, with 50MDA

US500, with 50MDA

ASX200, with 50MDA