Current Prices: Gold USD 2020.40/oz (AUD 3092.93) And Silver USD 22.70/oz (AUD 34.76)
Gold prices slipped on Monday ahead of U.S. inflation data and comments from Federal Reserve officials that could offer insight into the central bank’s interest rate plans. Spot gold fell 0.2% was trading near $US2020 an ounce at the US close and silver jumped 0.41% trading near $US 22.68 per ounce.
US share markets were mixed on Monday. Wall Street kicked off the week with small moves for stocks ahead of US inflation figures that will be key to determining the scope and timing of US Federal Reserve interest rate cuts. With around an hour left of trade in New York, the Dow was up by 92 points or 0.2% to an all-time high. But the S&P 500 index dipped 0.2% from record highs and the Nasdaq index shed 60 points or 0.4%.
US government bond yields fell on Monday ahead of the release of Tuesday’s consumer price index (CPI) for January, which will help shape investors’ outlook on when the US Federal Reserve could begin to cut interest rates. The US 10-year Treasury yield fell by 1 point to 4.17%. And the US 2-year Treasury yield dipped 2 points to 4.47%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar rose from US65.13 cents to US65.42 cents and was near US65.25 cents in late US trade.
In US economic data, consumer inflation expectations for the year ahead were unchanged at 3% in January (survey: 3%), the lowest in three years. Traders see about a 57% chance of a rate cut in May, according to the CME Fedwatch tool.
Australian gold prices fell by 0.31% ($9.54 per oz) to AUD 3093.30 at the US close.
Australian silver prices rose by 0.28% ($0.10 per oz) to AUD 34.75 at the US close.
The current Gold and Silver Ratio is 89.06
Current AUD/USD is 0.65304
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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