Current Prices: Gold USD 2670.14/oz (AUD 4310.25) And Silver USD 30.10/oz (AUD 48.63)
Gold prices rose to a near four-week high on Thursday, supported by safe-haven demand, while investors weighed how U.S. President-elect Donald Trump’s policies would impact the economy and inflation. Spot gold rose by 0.32%, trading near $US2670.14, and silver was flat trading near $US30.10 an ounce at the US close.
US share markets were closed on Thursday, and US equity futures ticked lower. Futures tied to the Dow Jones index fell 56 points, or 0.1%, S&P 500 index futures dipped 14.5 points, or 0.2%, and Nasdaq 100 index contracts shed 59.25 points, or 0.3%.
US government bond yields retreated little on Thursday as markets weighed the US Federal Reserve’s interest rate cut moves amid US economic resilience. The US 10-year Treasury yield was steady at nearly 4.69%, and the US 2-year Treasury yield fell by 3 points to 4.27%.
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US61.71 cents to US62.03 cents and was near US61.95 cents at the US close.
In US economic data, Challenger job cuts fell from 57,727 in November to 38,792 in December (survey: 65,000).
Australian gold prices rose by 0.66% (+28.20 per oz) to AUD 4310.25 at the US close.
Australian silver prices were up 0.38% (+0.18 per oz) to AUD 48.63 at the US close.
The current Gold and Silver Ratio is 88.67
Current AUD/USD is 0.6193
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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