Current Prices: Gold USD 2672.09/oz (AUD 3873.84) And Silver USD 32/oz (AUD 46.41)
Gold Price trading at record levels, as markets continued to assess the scale of expected rate cuts from the Federal Reserve in the ongoing easing cycle. Spot gold rose by 0.58% trading near $US2,672 and silver jumped by 0.65% trading near $US32 an ounce at the US close.
US share markets climbed on Thursday, with the S&P 500 index hitting an all-time high. The Dow Jones index rose by 260 points or 0.6%, the S&P 500 index gained 0.4% and the Nasdaq index added 108 points or 0.6%.
US government bond yields rose on Thursday.The US Treasury sold $US44 billion of 7-year notes at a yield of 3.668% into strong demand. The US 10-year Treasury yield rose by 2 points to 3.80% and the US 2-year Treasury yield increased 7 points to 3.63%.
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US68.57 cents to US69.04 cents and was near US68.95 cents at the US close.
In US economic data, the economy (GDP) expanded at a 3.0% annualised pace in the June quarter (survey: 2.9%). Initial jobless claims fell by 4,000 to 218,000 last week (survey: 223,000).
Australian gold prices fell by 0.47% (-18.45 per oz) to AUD 3875.80 at the US close.
Australian silver prices down by 0.42% (-0.19 per oz) to AUD 46.42 at the US close.
The current Gold and Silver Ratio is 83.43
Current AUD/USD is 0.6897
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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