Current Prices: Gold USD 2611.63/oz (AUD 4013.67) And Silver USD 31.15/oz (AUD 47.90)
Gold Price soared on Monday, after six days of losses, as the U.S. dollar’s surge stalled and heightened uncertainty over the Russia-Ukraine conflict rekindled safe-haven demand. Spot gold rose by 1.90% trading near $US2,611.63 and silver jumped by 3% trading near $US31.15 an ounce at the US close.
US share markets were mixed on Monday. The S&P 500 and the Nasdaq indexes rebounded as investors awaited quarterly results from artificial intelligence leader Nvidia on Wednesday. With around a half hour left of trade on Wall Street, the Dow Jones index was down by 68 points or 0.2%, but the S&P 500 index gained 0.4%, and the Nasdaq index added 120 points or 0.7%.
US government bond yields dipped on Monday, with traders keeping a close eye on news around US President-elect Donald Trump’s administration. The US 10-year Treasury yield fell by 1 point to 4.41% and the US 2-year Treasury yield decreased 2 points to 4.28%. Recent comments from Fed officials, including Chair Jerome Powell, have pointed to the central bank being deliberate in its rate cut path.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar lifted from US64.47 cents to US65.10 cents and was near US65.05 cents in late US trade.
In US economic data, the NAHB housing market index rose from 43 in October to a 7-month high of 46 in November (survey: 42).
Australian gold prices up by 1.18% (+46.94 per oz) to AUD 4013.67 at the US close.
Australian silver prices rose by 2.32% (+1.08 per oz) to AUD 47.90 at the US close.
The current Gold and Silver Ratio is 83.76
Current AUD/USD is 0.6504
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
To follow our market commentary and more, create a free trading account online HERE.
Featured Product
Follow Us On Socials
Disclaimers: Guardian Gold, Registered Office, Scottish House, 100 William Street, Melbourne, Victoria, 3000. ACN 138618176 (“Guardian Vaults” & “Guardian Gold”) All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher and/or the author. Information contained herein is believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation. Guardian Gold, its officers, agents, representatives and employees do not hold an Australian Financial Services License (AFSL), are not an authorised representative of an AFSL and otherwise are not qualified to provide you with advice of any kind in relation to financial products. If you require advice about a financial product, you should contact a properly licensed or authorised financial advisor. The information is indicative and general in nature only and is prepared for information purposes only and does not purport to contain all matters relevant to any particular investment. Subject to any terms implied by law and which cannot be excluded, Guardian Gold, shall not be liable for any errors, omissions, defects or misrepresentations (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (direct or indirect) suffered by persons who use or rely on such information. The opinions expressed herein are those of the publisher and/or the author and may not be representative of the opinions of Guardian Gold, its officers, agents, representatives and employees. Such information does not take into account the particular circumstances, investment objectives and needs for investment of any person, or purport to be comprehensive or constitute investment or financial product advice and should not be relied upon as such. Past performance is not indicative of future results. Due to various factors, including changing market conditions and/or laws the content may no longer be reflective of current opinions or positions. You should seek professional advice before you decide to invest or consider any action based on the information provided. If you do not agree with any of the above disclaimers, you should immediately cease viewing or making use of any of the information provided.
