Current Prices: Gold USD 2328.59/oz (AUD 3503.63) And Silver USD 29.57/oz (AUD 44.49)
Gold Price slipped on Tuesday as the US dollar steadied. Spot gold fell by 1.04% trading near $US 2326.24 an ounce at close and silver fell by 3.98% trading near $US29.50 an ounce.
US sharemarkets rose on Tuesday. The Dow Jones index rose 140 points or 0.4%, the S&P 500 index gained 0.2% and the Nasdaq index added 28 points or 0.2%.
US government bond yields tumbled on Tuesday after the fall in the JOLTS job opening data. Fed swaps are now pricing in a first interest rate cut in November. The US 10-year Treasury yield fell 7 points to 4.33% and the US 2-year Treasury yield decreased 5 points to 4.77%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar dipped from US66.67 cents to US66.31 cents and was near US66.45 at the US close.
US economic data showed JOLTS job openings fell from 8.36 million in March to 8.06 million in April (survey: 8.35 million). factory orders rose 0.7% in April (survey: +0.6%).
Australian gold prices were down 0.42% (-$14.68 per oz) to AUD 3499.37 at the US close.
Australian silver prices fell 3.44% (-$1.58 per oz) to AUD 44.36 at the US close.
The current Gold and Silver Ratio is 78.8
Current AUD/USD is 0.66461
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%203000%201803'%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%202048%201238'%3E%3C/svg%3E)
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Author: William Tao – Guardian Gold – Precious Metal Analyst
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