Daily FNArena News

National Australia Bank’s latest Monthly Business Survey showed a strong economy in March, leading the bank to lift its growth estimates slightly.

April’s auction at Mestena’s Corpus Christi headquarters saw some fierce bidding and spot uranium surging to US$113/lb.

As the focus swings to betting on a May rate rise in Australia, housing finance and employment data will be closely scrutinised this week.

Silver champion Ted Butler has again espoused the virtues of owning silver over gold and other investments as a long term trade. Substantial Comex short positions only add to his resolve.

While upcoming CPI data may force the Reserve Bank’s hand, economists believe a May rate hike is far from a given.

A resolution in Iran and more central bank selling has not deterred gold as it breaks back out of its recent trading range.

Industry consultant GFMS has released its Gold Survey for 2007, the group suggesting conditions remain in place for gold to go above last year’s high and beyond.

Weekly musings from your editor.

The Reserve Bank of Australia left interest rates unchanged this morning, but some experts see it as delaying the inevitability of a further hike in coming months.

Production downgrades at ERA’s waterlogged Ranger mine have been met with ratings downgrades from analysts, including one to Sell.