Current Prices: Gold USD 2034.84/oz (AUD 3134.55) And Silver USD 22.60/oz (AUD 34.82)
Gold prices edged lower on Thursday, hurt by a stronger dollar and elevated bond yields. Spot gold fell 0.13% was trading near $US2034 an ounce at the US close and silver however jumped 1.64% trading near $US 22.57 per ounce.
US share markets were mixed on Thursday, as investors sized-up major corporate earnings reports, a broadly in-line jobs report and remarks from policymakers on interest rate cuts. With around an hour left of trade on Wall Street, the Dow Jones index was up by 8.5 points or less than 0.1%. The S&P 500 index was flat, lingering near the 5,000-point mark. And the Nasdaq index added 30 points or 0.2%.
US government bond yields rose on Thursday. Claims for unemployment benefits fell for the first time in three weeks, pointing to a resilient US labour market that reinforces the US central bank message that interest rates will not be cut in the near-term. The US Treasury sold $US25 billion of 30-year notes at a yield of 4.36% into strong demand. The US 10-year Treasury yield rose by 6 points to 4.17%. And the US 2-year Treasury yield lifted 2 points to 4.45%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar slid from US65.24 cents to US64.80 cents and was near US64.90 cents in late US trade.
In US economic data, initial jobless claims fell by 9,000 to 218,000 in the past week (survey: 220,000). Wholesale inventories rose by 0.4% in December (survey: +0.4%).
Australian gold prices rose by 0.41% ($12.65 per oz) to AUD 3133.33 at the US close.
Australian silver prices rose by 2.11% ($0.72 per oz) to AUD 34.78 at the US close.
The current Gold and Silver Ratio is 90.10
Current AUD/USD is 0.64947
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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