Current Prices: Gold USD 2336.66/oz (AUD 3588.16) And Silver USD 27.92/oz (AUD 42.88)
Gold prices slipped from record-high levels on Wednesday after hot US inflation data. Spot gold fell by 0.80% trading near $US 2333.26 an ounce at the US close and silver fell by 0.78% trading near $US 27.90 an ounce.
US share markets tumbled on Wednesday after the hotter-than-expected US inflation data. Equities were further pressured by surging benchmark US 10-year Treasury yields, which breached 4.5% to touch the highest level since November. The Dow Jones index fell by 422 points or 1.1%, the S&P 500 index slid 1% and the Nasdaq index shed 136 points or 0.8%.
US government bond yields spiked after US inflation data came in higher than expected. Minutes from the Fed’s March policy meeting reflected officials’ concerns that inflation’s progress toward their 2% target might have stalled, and restrictive monetary policy may need to be maintained for longer than anticipated. The US Treasury sold $ US39bn of 10-year notes at a yield of 4.56% into weak demand. The US 10-year Treasury yield rose by 18 points to 4.545% and the US 2-year Treasury yield jumped 23 points to 4.97%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar slid from US66.28 cents to US64.99 cents and was near US65.10 cents at the US close.
In US economic data, the CPI rose 0.4% in March (survey: +0.3%) and 3.5%/yr (survey: 3.4%). Core CPI (ex-food & energy) also lifted 0.4% in March (survey: +0.3%), with the annual rate steady at 3.8% (survey: 3.7%).
Australian gold prices were up by 0.98% ($34.95 per oz) to AUD 3583.65 at the US close.
Australian silver prices rose by 0.99% ($0.42 per oz) to AUD 42.88 at the US close.
The current Gold and Silver Ratio is 83.70
Current AUD/USD is 0.65136
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
Gold (Yellow) vs Silver (White) vs ASX200 (Green) Rolling 12 Month Returns
To follow our market commentary and more, create a free trading account online HERE.
Featured Product
Follow Us On Socials
Disclaimers: Guardian Gold, Registered Office, Scottish House, 100 William Street, Melbourne, Victoria, 3000. ACN 138618176 (“Guardian Vaults” & “Guardian Gold”) All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher and/or the author. Information contained herein is believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation. Guardian Gold, its officers, agents, representatives and employees do not hold an Australian Financial Services License (AFSL), are not an authorised representative of an AFSL and otherwise are not qualified to provide you with advice of any kind in relation to financial products. If you require advice about a financial product, you should contact a properly licensed or authorised financial advisor. The information is indicative and general in nature only and is prepared for information purposes only and does not purport to contain all matters relevant to any particular investment. Subject to any terms implied by law and which cannot be excluded, Guardian Gold, shall not be liable for any errors, omissions, defects or misrepresentations (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (direct or indirect) suffered by persons who use or rely on such information. The opinions expressed herein are those of the publisher and/or the author and may not be representative of the opinions of Guardian Gold, its officers, agents, representatives and employees. Such information does not take into account the particular circumstances, investment objectives and needs for investment of any person, or purport to be comprehensive or constitute investment or financial product advice and should not be relied upon as such. Past performance is not indicative of future results. Due to various factors, including changing market conditions and/or laws the content may no longer be reflective of current opinions or positions. You should seek professional advice before you decide to invest or consider any action based on the information provided. If you do not agree with any of the above disclaimers, you should immediately cease viewing or making use of any of the information provided.