Current Prices: Gold USD 2662.69/oz (AUD 4310.85) And Silver USD 29.61/oz (AUD 47.95)
Gold prices dipped on Monday as the U.S. dollar soared to an over two-year high after a robust jobs report last week cemented expectations the Federal Reserve will proceed with caution with cutting interest rates this year. Spot gold fell by 1%, trading near $US2662.69, and silver dropped by 2.57% trading near $US29.61 an ounce at the US close.
US share markets were mixed on Monday. Mega caps were down, and with around an hour left of trade on Wall Street, the Dow Jones index was up by 254 points or 0.6%, but the S&P 500 index dipped 0.1%, and the Nasdaq index shed 154.5 points or 0.8%.
US government bond yields rose on Monday. The 10-year Treasury yield surged to 14-month highs in choppy trading before pulling back. The 10-year Treasury yield rose by 2 points to 4.80%, the highest since November 2023. The 2-year Treasury yield was unchanged at 4.40% after climbing to 4.426%, the strongest since July 2024.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar rose from US61.30 cents to US61.62 cents and was near US61.55 cents in late US trade.
In US economic data, consumer inflation expectations for the year ahead were unchanged at 3.0% in December (survey: 3.0%).
Australian gold prices fell by 1.51% (-66.18 per oz) to AUD 4310 at the US close.
Australian silver prices were down 3.08% (-1.52 per oz) to AUD 47.94 at the US close.
The current Gold and Silver Ratio is 89.84
Current AUD/USD is 0.6175
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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