Current Prices: Gold USD 2035.60/oz (AUD 3120.21) And Silver USD 22.26/oz (AUD 34.11)
Gold prices were flat in the session while traders positioned for remarks from several Federal Reserve officials this week to gauge the likely pace of interest rate cuts this year. Spot gold was trading near $US2035 an ounce at the US close and silver lost 0.93% trading near $US 22.21 per ounce.
US share markets rose on Wednesday, as investors took stock of corporate earnings and assessed remarks from policymakers for more clues on the outlook for interest rates. With around an hour left of trade on Wall Street, the Dow Jones index was up by 192 points or 0.5%, the S&P 500 index gained 0.9% and the Nasdaq index added 154 points or 1.0%.
US government bond yields rose on Wednesday. The US Treasury sold a record $US42 billion of 10-year notes at a yield of 4.093% into solid demand. The US 10-year Treasury yield rose by 2 points to 4.12%. And the US 2-year Treasury yield lifted 1 point to 4.42%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar dipped from US65.37 cents to US65.14 cents and was near US65.20 cents in late US trade.
In US economic data, the trade deficit widened by $US0.3 billion to $US62.2 billion in December (survey: -$US62bn). Federal Reserve regional presidents Loretta Mester and Neel Kashkari welcomed the progress on inflation but signaled there was more work to do before policy could be eased.
Australian gold prices were flat trading at AUD 3120.70 at the US close.
Australian silver prices fell by 0.92% ($0.32 per oz) to AUD 34.06 at the US close.
The current Gold and Silver Ratio is 91.65
Current AUD/USD is 0.65229
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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