Current Prices: Gold USD 2359/oz (AUD 3501 And Silver USD 30.75/oz (AUD 45.64)
Gold Prices were slightly lower in after-hours trade on Monday. Spot gold was trading near $US 2359 an ounce at close and silver trading near $US30.75 an ounce.
US sharemarkets were mixed on Monday. The Dow Jones index eased by 31 points or 0.1%, the S&P 500 index gained 5.7 points or 0.1% and the Nasdaq index rose 51 points or 0.3%. The modest moves reflected investor focus on key events in coming days, including Fed Chairman Powell’s two days of testimony before congressional committees, followed by consumer and producer inflation reports later in the week.
US government bonds were little changed, the US 10-year Treasury yield was steady at 4.28% and the US 2-year Treasury yield edged higher by 3 points to 4.63%.
Most currencies eased against the US Dollar on Monday as the Greenback consolidated in the wake of its retreat of the last week. The Euro rose from a low of $US1.0814 to $US1.0845 but then retreated to be near $US1.0825 at the US close. The Aussie dollar traded in a narrow range, rising from US67.40 cents to US67.51 cents and was near US67.36 cents at the US close.
Looking Ahead: US Fed Chair Jerome Powell delivers “The Semiannual Monetary Policy Report” to the US Congress in Washington at midnight tonight Australian Eastern Time. Expect some moves in currencies and gold prices during this event.
Australian gold prices were down 1% (-36.00 per oz) to AUD 3501 at the US close.
Australian silver prices fell by 1.1% (-$0.52 per oz) to AUD 45.89 at the US close.
The current Gold and Silver Ratio is 77.49
Current AUD/USD is 0.6740
Gold (AUD)
Silver (AUD)
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