Current Prices: Gold USD 2689.44/oz (AUD 4377.03) And Silver USD 30.39/oz (AUD 49.47)
Gold prices rebounded on Friday as uncertainty surrounding the incoming Trump administration’s policies lifted safe-haven appeal. Spot gold rose by 0.72%, trading near $US2689.44, and silver jumped 0.98% trading near $US30.39 an ounce at the US close. Over the week, gold was up by 1.89% and silver increased by 2.72%.
US share market tumbled on Friday, with the S&P 500 index erasing its 2025 gains, after a blowout US jobs report stoked fresh inflation fears, reinforcing bets that the US Federal Reserve will be cautious in cutting interest rates this year. The Dow Jones index slid 697 points or 1.6%, the S&P 500 index slipped 1.5% and the Nasdaq index shed 317 points or 1.6%. The Dow lost 1.9% for the week, the S&P 500 also gave up 1.9% and the tech-heavy Nasdaq decreased 2.3%.
US government bond yields spiked on Friday after the employment report. The US 10-year Treasury yield jumped 8 points to 4.76% after hitting 4.79%, the highest since November 2023. The US 2-year Treasury yield surged 12 points to 4.38%, just below the highest level since July 2024, at 4.39%. Yields jumped between 10 and 16 points for the week.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar slid from US61.98 cents to US61.39 cents was near US61.45 cents at the US close.
In US economic data, nonfarm payroll jobs rose by 256,000 in December (survey: +165,000). The unemployment rate fell from 4.2% to 4.1% (survey: 4.2%). The participation rate was unchanged at 62.5% (survey: 62.5%). Average hourly earnings rose 0.3% in December to a 3.9% annual pace (survey: 4.0%, prior: 4.0%). The University of Michigan consumer sentiment index fell from 74.0 in December to 73.2 in January (survey: 74.0).
Australian gold prices rose by 1.55% (+66.78 per oz) to AUD 4377 at the US close. (New High)
Australian silver prices were up 1.73% (+0.84 per oz) to AUD 49.47 at the US close.
The current Gold and Silver Ratio is 88.41
Current AUD/USD is 0.6144
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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