Current Prices: Gold USD 2324.23/oz (AUD 3559.70) And Silver USD 26.78/oz (AUD 41.01)
Gold prices moved higher on Wednesday, remaining near the low levels seen on April 5 as traders were evaluating the latest Federal Reserve policy decision. Spot gold rose by 1.47% trading near $US 2319.49 an ounce at the US close and silver also jumped by 1.37% trading near $US 26.63 an ounce.
US sharemarkets were mixed with the Dow Jones index up by 87 points or 0.2%, but the S&P 500 index dipped 0.3% and the Nasdaq index shed 52 points or 0.3%. At their session highs, the S&P 500 was up 1.2%, while the Nasdaq climbed about 1.7%
US government bond yields fell on Wednesday after the FOMC meeting. In terms of its balance sheet, the Fed will cut the cap on the run-off for US Treasuries to $US25 billion a month from $US60 billion beginning in June. The US 10-year Treasury yield fell by 5 points to 4.64% and the US 2-year Treasury yield decreased by 8 points to 4.96%.
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US64.71 cents to US65.38 cents and was near US65.30 cents at the US close.
In US economic data, ADP private payroll jobs increased by 192,000 in April (survey: +183,000). JOLTS job openings fell from 8.81 million in February to a three-year low of 8.49 million in March (survey: 8.68 million). The ISM manufacturing index fell from 50.3 in March to 49.2 in April (survey: 50).
Australian gold prices rose by 0.68% ($23.89 per oz) to AUD 3555.90 at the US close.
Australian silver prices rose by 0.56% ($0.23 per oz) to AUD 40.85 at the US close.
The current Gold and Silver Ratio is 86.83
Current AUD/USD is 0.65313
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
Gold (Yellow) vs Silver (White) vs ASX200 (Green) Rolling 12 Month Returns
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