Current Prices: Gold USD 2635.88/oz (AUD 4220.72) And Silver USD 29.93/oz (AUD 47.94)
Gold prices on Monday as U.S. Treasury yields rose, while the Federal Reserve’s recent hint at a slower pace of rate cuts in 2025 kept investors keenly awaiting a slew of economic data due this week to shed more light on that view. Spot gold fell by 0.14%, trading near $US2635.90, and silver however rose by 1.15%, trading near $US29.93 an ounce at the US close.
US sharemarkets rose on Monday as optimism around artificial intelligence boosted semiconductor stocks, and a Washington Post report suggested the incoming Trump administration could adopt a less aggressive stance on tariffs than previously anticipated. However, Trump later refuted the report. With around an hour left of trade on Wall Street, the Dow Jones index was up by 42 points or 0.1%, the S&P 500 index gained 0.6% and the Nasdaq index added 220 points or 1.1%.
US government bond yields were mixed on Monday. Longer-dated yields moved higher ahead of a series of key US jobs data set to be published this week. Bank deregulation optimism fuelled a steepening of the US Treasury curve, with shorter maturities outperforming. The US Treasury sold $US58 billion of 3-year notes at a yield of 4.332% into soft demand. The US 10-year Treasury yield rose by 2 points to 4.62%. The US 2-year Treasury yield fell 1 point to 4.27%.
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US62.20 cents to US62.99 cents and was near US62.40 cents in late US trade.
In US economic data, factory orders fell by 0.4% in November (survey: -0.4%). The S&P Global services PMI rose from 56.1 in November to 56.8 in December (survey: 58.5).
Australian gold prices fell by 0.6%0 (-25.62 per oz) to AUD 4220.72 at the US close.
Australian silver prices were up 0.65% (+0.31 per oz) to AUD 47.94 at the US close.
The current Gold and Silver Ratio is 88
Current AUD/USD is 0.6241
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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