Current Prices: Gold USD 2282.26/oz (AUD 3502.69) And Silver USD 26.16/oz (AUD 40.16)
Gold prices hit a new record high as traders snapped up the safe haven asset amid growing Middle East tensions, largely ignoring a still-strong dollar and tempered bets for U.S. rate cuts. Spot gold was up by 1.30% trading near $US 2280.40 an ounce at the US close and silver rose by 4.21% trading near $US 26.12 an ounce.
US share markets fell on Tuesday. The Dow Jones index fell by 397 points or 1%, the S&P 500 index dipped 0.7% and the Nasdaq index shed 156 points or 1%. It was the worst day since March 5 for the Dow and S&P 500.
Longer-dated US government bond yields rose on Tuesday. The US 10-year Treasury yield rose by 4 points to 4.35% after earlier climbing to 4.405% in the session, the highest level since November. But the US 2-year Treasury yield fell by 1.5 points to 4.69%.
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US64.85 cents to US65.22 cents and was near US65.15 cents at the US close.
In US economic data, Factory orders rose by 1.4% in February (survey: +1%). JOLTS job openings edged up to 8.76 million in February from 8.75 million in January (survey: 8.73 million).
Australian gold prices rose by 0.86% ($29.77 per oz) to AUD 3499.16 at the US close.
Australian silver prices rose by 3.77% ($1.45 per oz) to AUD 40.10 at the US close.
The current Gold and Silver Ratio is 87.21
Current AUD/USD is 0.6515
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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