Current Prices: Gold USD 2002.80/oz (AUD 3043.43) And Silver USD 24.35/oz (AUD 36.99)
Gold prices rose over the key $2,000 level on Friday, logging its second consecutive weekly gain, see-sawing against a weaker U.S. dollar on bets that the U.S. Federal Reserve is done with its interest rate-hiking cycle. Spot Gold was up 0.5% trading near $US2002 an ounce at the US close. Overall, up 1% for the week. Silver rose by 2.25% trading at $24.03 per ounce and reached 12-week high territory.
US share markets major retail shares rose slightly as Black Friday kicked off the holiday shopping season. The Dow Jones index rose by 117 points or 0.3%, the S&P 500 index gained 0.1% but the Nasdaq index fell by 15 points or 0.1%. For the week, the Dow gained 1.3%, the S&P 500 lifted 1% and the Nasdaq added 0.9%.
US government bond yields rose on Friday. The US 10-year Treasury yield rose by 6 points to 4.47%. The US 2-year Treasury yield lifted 4 points to 4.95%. For the week, the 10-year yield gained 3 points with the 2-year yield up 6 points.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar lifted from US65.55 cents to US65.90 cents and was near US65.80 cents at the US close.
In US economic data, the S&P Global Composite Purchasing Managers’ index (PMI) was unchanged at 50.7 in November (survey: 50.4), denoting an expansion in activity. The manufacturing PMI eased from 50 to 49.4 (survey: 49.9). And the services PMI rose from 50.6 to 50.8 (survey: 50.3).
Australian gold prices were flat trading at AUD 3038.45 at the US close.
Australian silver prices rose by 1.48% ($0.54 per oz) to AUD 36.92 at the US close.
The current Gold and Silver USD Ratio is 82.42
Current AUD/USD is 0.65842
Gold Price in AUD Chart
Silver Price in AUD Chart
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
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