The Finance Owl

Banks – Loans – Mortgages – Money

Australia’s Westpac Bank and Commodities

Posted by theaccountant November - 7 - 2009 - Saturday

Westpac Bank, one of Australia’s larger banks, has been in the press over the past week as world attention continues to focus on commodities. A significant portion of this global demand for commodities is supplied from Australia, Westpac is therefore one of a number of Australian banks which continues to provide purported expert advice.

This week alone there have been quotes reported in the media from Westpac on the state of gold, oil and copper. Justin Smirk, Westpac’s senior economist, has been talking about the momentum on gold and in particular discussing concerns over general concerns of a potential gold bubble. Westpac have also been trying to keep gold prices in perspective with the oil prices. Westpac’s Smirk has been highlighted that investors may wish to consider some of the measures which are implying oil and copper may be a speculative opportunity. Any investment should only be taken after taking appropriate independent advice.

Commodities have been one of the items which have unsurprisingly been adjusted as a result of the economic downturn. Classic economic buying patterns have been seen over the past couple of years, such as retreating to gold and less demand on oil. The key to buying patterns in 2010 and beyond is the key thing for us now to consider.

Westpac bank also serves the traditional high street consumer with classic financial products, such as Westpac unsecured loans.

Related posts:

Comments are closed.