Current Prices: Gold USD 2019.88/oz (AUD 3082.62) And Silver USD 24.21/oz (AUD 36.93)
Gold prices slipped on Tuesday after grazing an all-time high in the previous session as the dollar regained. Gold had climbed to a record high of $2,135.40 on Monday, before dropping more than $100 in a single day to close over 2% lower. Spot gold last night fell 0.5% trading near 2019 per oz at the US close. Silver fell 1.47% trading near $US 24.13 per ounce.
US share markets were mixed on Tuesday as investors assessed a fresh batch of US economic data, with around an hour left of trade, the Dow Jones index was 55 points or 0.2% lower, while the S&P 500 index dipped 0.1%. But the Nasdaq index added 45 points or 0.3%.
US government bond yields rallied on Tuesday after a report showed that US job openings fell sharply in October. The US 10-year Treasury yield fell by 8 points to 4.17%. And the US 2-year Treasury yield dropped 6 points to 4.57%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar dipped from US65.84 cents to US65.44 cents and was near US65.50 cents in late US trade.
In US economic data, the final S&P Global services PMI rose from 50.6 to 50.8 in November (survey: 50.8). The ISM services index lifted from 51.8 to 52.7 in November (survey: 52.3). JOLTS job openings fell from 9.4 million to 8.7 million in October (survey: 9.3m), the lowest level since March 2021. In Australia yesterday, the RBA left the cash rate on hold at the December Board meeting. The RBA is data-dependant, and an upside inflation surprise will be required for the Board to hike the cash rate again.
Australian gold prices up by 0.54% ($16.59 per oz) to AUD 3081.73 at the US close.
Australian silver prices fell by 0.44% ($0.16 per oz) to AUD 36.85 at the US close.
The current Gold and Silver USD Ratio is 83.60
Current AUD/USD is 0.6553
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
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