Current Prices: Gold USD 2662.48/oz (AUD 3975.28) And Silver USD 31.48/oz (AUD 47.01)
Gold Price edged higher on Tuesday lifted by retreating Treasury yields, while investors cautiously awaited more data that could offer fresh clues on the Federal Reserve’s monetary easing cycle. Also, Central banks remain keen buyers of gold to diversify their reserves for financial or strategic reasons, representatives of three central banks told the London Bullion Market Association’s annual conference in Miami on Monday. Spot gold rose by 0.52% trading near $US2662.54 and silver jumped 1.01% trading near $US31.48 an ounce at the US close.
US share markets slipped on Tuesday, with the tech-heavy Nasdaq index leading the decline. At the close of trade, the Dow Jones index fell by 325 points or 0.8% and the S&P 500 index also dipped 0.8%, both falling from all-time highs. The Nasdaq index shed 187 points or 1%.
US government bond yields were mixed on Tuesday. The US 10-year Treasury yield fell by 4 points to 4.04% but the US 2-year Treasury yield rose by 1 point to 3.95%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar slid from US67.24 cents to US66.97 cents and was near US67.00 cents at the US close. The dollar was boosted in part by comments from Fed Governor Chris Waller, who called for “more caution” on interest rate cuts ahead.
Australian gold prices rose by 0.84% (+34 per oz) to AUD 3972.15 at the US close.
Australian silver prices up by 1.32% (+0.61 per oz) to AUD 46.99 at the US close.
The current Gold and Silver Ratio is 84.53
Current AUD/USD is 0.6697
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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