Current Prices: Gold USD 3315.72/oz (AUD 5183.23 ) and Silver USD 32.44/oz (AUD 50.74)
Gold prices extended losses and fell more than 1% on Thursday after U.S. President Donald Trump announced a trade deal with the United Kingdom, raising hopes of such deals with other countries. Spot gold fell by 1.74%, trading at US3305.93 per oz, and silver was flat, trading near $US32.45 an ounce at the US close.
US share markets rose on Thursday, boosted by optimism over a new trade deal with the UK. Britain agreed to lower tariffs and expand market access for U.S. goods. A 10% baseline tariff on UK goods imported to the U.S. will remain in place. The Dow Jones rose 254.5 points (+0.6%), S&P 500 gained 0.6% and Nasdaq added 190 points (+1.1%).
U.S. government bond yields climbed on Thursday as investors responded to strong U.S. labor market data and a new U.S.-UK trade framework by shifting toward riskier assets and scaling back expectations for interest rate cuts. The U.S. Treasury auctioned $25 billion in 30-year bonds at a yield of 4.819%, though demand was tepid. The 10-year Treasury yield rose 11 basis points to 4.38%, while the 2-year yield
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar eased from US64.43 cents to US63.94 cents and was near US64.00 cents at the US close.
In U.S. economic data, initial jobless claims fell by 13,000 to 228,000 last week, slightly better than the expected 230,000, signalling ongoing labour market resilience. Nonfarm productivity dipped 0.8% in Q1 2025, in line with forecasts, while unit labour costs rose more than expected at 5.7% (survey: +5.1%), suggesting persistent wage pressures. Meanwhile, the New York Federal Reserve’s consumer inflation expectations for the year ahead remained unchanged at 3.6% in April, below the 4.0% market forecast.
Australian gold prices were down by 1.35% (-$70.84 per oz) to AUD $5165.82 at the US close.
Australian silver prices up by 0.42% (+0.21 per oz) to AUD 50.73 at the US close.
The current Gold and Silver Ratio is 102.13
Current AUD/USD is 0.6396
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Return
Gold (Yellow) vs Silver (White) vs ASX200 (Green) Rolling 12 Month Returns
By: William Tao Guardian Gold Precious Metal Analyst
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