Current Prices: Gold USD 2756.03/oz (AUD 4393.32) And Silver USD 30.81/oz (AUD 49.12)
Gold prices soared to near three-month highs on Wednesday, trading just below their record peak. This was fuelled by a soft dollar and lack of clarity around U.S. President Donald Trump’s policy plans, which investors fear could trigger trade wars and elevate market volatility. Spot gold was up by 0.42%, trading near $US2756.03, and silver was flat trading near $US30.81 an ounce at the US close.
US share markets rose on Wednesday, with the benchmark S&P 500 index hitting an all-time intraday high. The tech sector was boosted by strong earnings and Trump’s multi-billion dollar support to bolster AI infrastructure. With around an hour left of trade on Wall Street, the Dow Jones index was up by 154 points or 0.4%, the S&P 500 index gained 0.7%, and the Nasdaq index added 262 points or 1.3%.
US government bond yields climbed on Wednesday as investors awaited more announcements from the new Trump administration about policies on tariffs, immigration, and tax cuts. The US Treasury sold $US13 billion of 20-year bonds at a yield of 4.90% into solid demand. The US 10-year Treasury yield rose by 3 points to 4.60% and the US 2-year Treasury yield lifted 1 point to 4.30%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar lifted from US62.52 cents to US62.95 cents and was near US62.75 cents in late US trade.
In US economic data, the Conference Board leading index fell by 0.1% in December (survey: -0.1%).
Australian gold prices increased by 0.41% (+18 per oz) to AUD 4393.32 at the US close.
Australian silver prices fell slightly by 0.06% (-0.03 per oz) to AUD 49.12 at the US close.
The current Gold and Silver Ratio is 89.41
Current AUD/USD is 0.6269
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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