RBA cuts interest rates

Whilst this is rate cut is small it does reduce the opportunity cost of owning, or borrowing to buy precious metals.

From smh.com.au

The Reserve Bank has cut interest rates for the first time in more than 2½ years, bringing relief to households and corporate borrowers.

As widely tipped by economists, the central bank today lowered its key cash rate by 25 basis points to 4.5 per cent. The move reversed the increase imposed on Melbourne Cup Day last year, the most recent time the RBA has shifted rates.

Read more: http://www.smh.com.au/business/rba-rate-cut-sparks-commercial-response-20111101-1mte4.html#ixzz1cREf52NF