Current Prices: Gold USD 2934.14/oz (AUD 4641.17) And Silver USD 33.23/oz (AUD 52.58)
Gold prices on Wednesday, aided by tariff uncertainty and a cooler inflation report that keep bets for a U.S. rate cut intact. Spot gold rose by 0.61% trading near $US2933 per oz, and silver jumped by 0.86% trading near $US33.20 an ounce at the US close.
US sharemarkets were mixed on Wednesday. Anxiety around the impacts of US President Donald Trump’s tariff policies continued to influence sentiment, with the US equity benchmark briefly falling as Canada unveiled new tariffs against $US21 billion of US goods. The EU also announced tariffs worth €26 billion on US imports after steel and aluminium tariffs took effect on Wednesday. The Dow Jones index fell by 83 points or 0.2% but the S&P 500 index gained 0.5% and the Nasdaq index added 212 points or 1.2%.
US government bond yields rose on Wednesday. The US 10-year Treasury yield rose by 3 points to 4.32% and the US 2-year Treasury yield lifted 5 points to 3.99%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar lifted from US62.75 cents to US63.18 cents and was near US63.15 cents at the US close.
In US economic data, the consumer price index (CPI) rose by 0.2% in February (survey: +0.3%). The annual growth rate eased from 3% to 2.8% (survey: 2.9%). The core CPI (ex-food & energy) also rose 0.2% in February (survey: +0.3%). Annual core inflation dipped from 3.3% to 3.1% (survey: 3.2%).
Australian gold prices up by 0.26% (+12.24 per oz) to AUD 4641.55 at the US close.
Australian silver prices up by 0.52% (+0.27 per oz) to AUD 52.58 at the US close.
The current Gold and Silver Ratio is 88.24
Current AUD/USD is 0.6322
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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