Current Prices: Gold USD 1982.20/oz (AUD 3017.39) And Silver USD 22.83/oz (AUD 34.77)
Gold prices slid to a near three-week low as the focus shifted to Tuesday’s CPI report. Spot gold fell by 1.15% trading near $US1981 per oz at the US close. Silver fell 0.76% trading near $US 22.82 per ounce.
US share markets rose on Monday in the run-up to an action-packed week that includes the US Federal Reserve’s policy meeting and US inflation data, both of which will test investor optimism about interest rates easing next year. With around an hour left of trade, the Dow Jones index was up by 115 points or 0.3%, the S&P 500 index also gained 0.3% and the Nasdaq index added 12 points or 0.1%.
US government bond yields were little changed ahead of crucial central bank meetings and US inflation data that could influence the Fed’s policy path. The US 10-year Treasury yield fell by 1 point to 4.24%. And the US 2-year Treasury yield was steady near 4.72%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar rose from US65.50 cents to US65.71 cents and was near US65.65 cents in late US trade.
In US economic data, consumer inflation expectations for the year ahead decreased from 3.6% in October to 3.4% in November (survey: 3.8%), the lowest since April 2021.
In Podcasts: Jim Bianco joins Jim Grant to discuss interest rates and bond markets:
Jim Bianco, president and macro strategist at @biancoresearch, joins Jim Grant and Evan Lorenz on our podcast, Grant's Current Yield, to discuss interest rates and the new bear market in bonds. https://t.co/DMM1Fd4reA
— GRANT'S (@GrantsPub) December 1, 2023
Australian gold prices fell by 1.03% ($31.40 per oz) to AUD 3016.67 at the US close.
Australian silver prices fell by 0.63% ($0.22 per oz) to AUD 34.76 at the US close.
The current Gold and Silver USD Ratio is 86.90
Current AUD/USD is 0.6569
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
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