Current Prices: Gold USD 2706.87/oz (AUD 4327.37) And Silver USD 30.49/oz (AUD 48.79)
Gold prices edged higher on Monday, bolstered by a weaker U.S. dollar, as markets assessed the potential economic impact of U.S. President Donald Trump‘s second-term policies following his inauguration. Spot gold was up by 0.16%, trading near $US2706.87, and silver rose by 0.56%, trading near $US30.49 an ounce at the US close.
US share markets closed Monday for the Martin Luther King Jr. Day holiday. Futures tied to the Dow Jones rose by 167 points or 0.4%, S&P 500 futures gained 21.75 points or 0.4% and Nasdaq 100 contracts lifted 88.25 points or 0.4%.
US government bond markets were shut on Monday for a public holiday, with no cash trading of US Treasuries.
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US61.96 cents to US62.84 cents and was near US62.70 cents in late North American trade.
Australian gold prices were down by 0.87% (-37.94 per oz) to AUD 4327.37 at the US close.
Australian silver prices fell by 0.48% (-0.23 per oz) to AUD 48.79 at the US close.
The current Gold and Silver Ratio is 88.79
Current AUD/USD is 0.6271
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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