Current Prices: Gold USD 2420/oz (AUD 3,727) and Silver USD 28.59/oz (AUD 44.05)
Gold Prices pushed higher today during the Sydney trading session and the AUD weakened, sending gold in AUD back up to $3,726 per ounce. News of Hamas political leader Ismail Heniyeh being killed by suspected Israeli airstrike sent both metals higher in early trading. Since then we saw the AUS trimmed mean CPI come in below market expectations, pushing odds higher of no further rate hikes for the RBA, and hence weaking the AUD back to 0.65 US cents.
Overnight US share markets were mixed on Tuesday. The S&P 500 and Nasdaq indexes were both weighed down by weak chip and mega cap shares. The Dow Jones index rose by 203 points or 0.5%, but the S&P 500 index slid 0.5% and the Nasdaq index shed 223 points or 1.3%
US government bond yields drifted lower on Tuesday, as investors geared up for a US Federal Reserve that is expected to hold interest rates unchanged this week, while flagging monetary policy easing at the September meeting. Bonds also benefited from a safe haven rally after Israel carried out a strike in Lebanon targeting a Hezbollah commander.
Currencies were mixed against the US dollar in European and US trade. The Euro fell from $US1.0835 to $US1.0797 and was near $US1.0815 at the US close. The Aussie dollar dipped from US65.61 cents to US65.29 cents and was near US65.35 cents at the US close.
Australian gold prices were up +1.1% (+$43 per oz) since this morning
Australian silver prices are up 1.3% (+$0.60 per oz) this morning
The Gold: Silver Ratio dropped to 84:6
Current AUD/USD is 0.649
Gold (AUD) Chart
Silver (AUD) Chart
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