Current Prices: Gold USD 2325.50/oz (AUD 3482.67) And Silver USD 29.14/oz (AUD 43.63)
Gold Price steadied on Friday and was headed for a third straight quarterly gain after a key U.S. inflation report was broadly in line with expectations, boosting hopes that the Federal Reserve could cut interest rates by September. Spot gold was flat trading near $US 2326.41 an ounce at close and silver rose by 0.59% trading near $US29.12 an ounce. Gold is also flat over the monthly timeframe, and silver fell 4.19%.
In US sharemarkets the Dow Jones index fell 45 points or 0.1%, the S&P 500 index slid 0.4% and the Nasdaq index shed 126 points or 0.7%. In June, the Dow rose 1.1%, the S&P 500 gained 3.5% and the Nasdaq jumped 6%.
US government bond yields reversed earlier declines to trade higher. The US 10-year Treasury yield rose by 10 points to 4.39% and the US 2-year Treasury yield lifted 3 points to 4.75%. The 10-year yield was 18 points lower in June and the 2-year yield fell by 17 points in June.
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US66.21 cents to US66.83 cents and was near US66.65 cents at the US close.
US data the core PCE price index, the Fed’s preferred measure rose by 0.1%/month in May, in line with expectations and 2.6%/yr. The University of Michigan consumer sentiment index fell from 69.1pts in May to 68.2pts in June (survey: 66).
Australian gold prices were down 0.39% (-13.57 per oz) to AUD 3488.31 at the US close.
Australian silver prices rose 0.23% (+$0.10 per oz) to AUD 43.69 at the US close.
The current Gold and Silver Ratio is 79.89
Current AUD/USD is 0.6678
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns![](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%202048%201240'%3E%3C/svg%3E)
Gold (Yellow) vs Silver (White) vs ASX200 (Green) Rolling 12 Month Returns![](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%203000%201819'%3E%3C/svg%3E)
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Author: William Tao – Guardian Gold – Precious Metal Analyst
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