Current Prices: Gold USD 2502.87/oz (AUD 3698.32) And Silver USD 28.86/oz (AUD 42.67)
Gold Price slipped on Friday as the dollar and Treasury yields firmed after U.S. inflation data matched expectations. Spot gold fell by 0.7% trading near $US2,503.26 and silver was down by 1.88% trading near $US28.85 an ounce. Over the week gold fell 0.36% and silver fell by 3.27%. However, over August gold is up 2.29% and Silver fell by 0.48%.
US sharemarkets rose and the Dow Jones index scored a second consecutive all-time closing high on Friday. The Dow Jones index rose by 228 points or 0.6%, the S&P 500 index gained 1% and the Nasdaq index added 197 points or 1.1%.
US government bond yields rose on Friday after solid US economic data raised expectations the US central bank was likely to opt for a small interest rate cut at its September meeting. The US 10-year Treasury yield rose by 4 points to 3.91% and the US 2-year Treasury yield lifted 3 points to 3.92%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar eased from US68.16 cents to US67.50 cents and was near US67.65 cents at the US close.
In US economic data, personal income lifted 0.3% in July, personal spending was up 0.5% in July. The core PCE price index rose 0.2% in July (survey: +0.2%) and was 2.6% higher on a year ago (survey: 2.7%, prior: 2.6%).
Australian gold prices fell by 0.22% (-8.20 per oz) to AUD 3700.35 at the US close.
Australian silver prices were down 1.42% (-0.61 per oz) to AUD 42.66 at the US close.
The current Gold and Silver Ratio is 86.73
Current AUD/USD is 0.6769
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns 
Gold (Yellow) vs Silver (White) vs ASX200 (Green) Rolling 12 Month Returns
By: William Tao Guardian Gold Precious Metal Analyst
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