Current Prices:
Current Prices: Gold USD 2362.27/oz (AUD 3580.21) And Silver USD 28.20/oz (AUD 42.74)
Gold Overnight Performance:
Gold price extended gains on Friday. Spot gold increased by 0.61% trading near $US 2360 an ounce at the US close and silver fell by 0.54% trading near $US 28.16 an ounce. Over the week, gold increased by 2.54% and Silver jumped by 6.10%.
US Share Markets:
US share markets mostly rose on Friday. The Dow Jones index rose by 125 points or 0.3%, wrapping up an eighth consecutive winning session. The S&P 500 index gained 0.2% but the Nasdaq index fell 5 points or 0.03%. The Dow posted a 2.2% gain for the week, its best week since December. The S&P 500 and the Nasdaq both posted a third consecutive winning week, rising 1.9% and 1.1%, respectively.
Bond Market Activity:
US government bond yields rose as traders reacted to a higher-than-expected inflation expectations reading. Fed Governor Michelle Bowman said she doesn’t expect it will be appropriate for the US central bank to cut interest rates in 2024. The US 10-year Treasury yield rose 5 points to 4.50% and the US 2-year Treasury yield lifted 7 points to 4.87%. For the week, the 10-year yield was flat with the 2-year yield 7 points higher.
Currency Moves:
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar slid from US66.21 cents to US65.96 cents and was near US66.00 cents at the US close.
Economic Data:
In US economic data, the University of Michigan consumer sentiment index fell from 77.2 to 67.4 in May (survey: 76.2). The one-year inflation outlook rose from 3.2% to 3.5%.
Australian gold prices rose by 0.85% (+$30.05 per oz) to AUD 3574.34 at the US close.
Australian silver prices fell by 0.32% (-$0.14 per oz) to AUD 42.66 at the US close.
The current Gold and Silver Ratio is 83.80
Current AUD/USD is 0.6599
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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