Current Prices:
Gold USD 2346.71/oz (AUD 3545.41) And Silver USD 28.35/oz (AUD 42.83)
Gold Overnight Performance:
Gold price rose on Thursday supported by weakening labor market and strengthening the case for the Fed to cut interest rates sooner rather than later. Spot gold increased by 1.61% trading near $US 2345.95 an ounce at the US close and silver rose by 3.63% trading near $US 28.31 an ounce.
US Share Markets:
US share markets advanced and the Dow Jones index rose by 331 points or 0.9%, recording its seventh straight positive session. The S&P 500 index gained 0.5% and the Nasdaq index added 43.5 points or 0.3%.
Bond Market Activity:
US government bond yields dipped after data showed the number of Americans filing new claims for unemployment benefits increased to the highest level since late August 2023. San Francisco Fed President Mary Daly said “more time” was needed to return inflation to the US central bank’s goal. The US Treasury sold $US25 billion of 30-year notes at a yield of 4.635% into strong demand. The US 10-year Treasury yield fell by 3 points to 4.46% and the US 2-year Treasury yield also slipped 3 points to 4.82%.
Currency Moves:
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US65.64 cents to session highs near US66.20 cents at the US close.
Economic Data:
In US economic data, initial jobless claims rose by 22,000 to 231,000 in the past week, surpassing market expectations (survey: 212,000).
Australian gold prices rose by 1.01% (+$35.27 per oz) to AUD 3544.29 at the US close.
Australian silver prices rose by 3.02% (+$1.25 per oz) to AUD 42.80 at the US close.
The current Gold and Silver Ratio is 82.84
Current AUD/USD is 0.66199
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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By: William Tao
Guardian Gold Precious Metal Analyst
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