Current Prices:
Current Prices: Gold USD 2339.11/oz (AUD 3540.56) And Silver USD 28.34/oz (AUD 42.89)
Gold Overnight Performance:
Gold price fell on Monday as investors’ focus turned to the key US inflation reports due this week to seek further clues. Spot gold fell by 1.04% trading near $US 2335.74 an ounce at the US close and silver was flat trading near $US 28.18 an ounce.
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:
Longer-dated US government bond yields fell on Monday but held in a tight trading range as investors waited on highly anticipated US Consumer Price Index (CPI) data for April due on Wednesday. Federal Reserve Vice Chair Phillip Jefferson said he supports keeping interest rates steady until it is clear that price pressures are moderating. The US 10-year Treasury yield fell by 2 points to 4.49% and the US 2-year Treasury yield was steady near 4.87%.
Currency Moves:
Currencies were mostly stronger against the US dollar in European and US trade. The Aussie dollar lifted from US65.92 cents to US66.27 cents and was near US66.05 cents at the US close.
Economic Data:
In US economic data, consumer inflation expectations for the year ahead increased to 3.3% in April, the highest since November, up from 3.0% in March and stronger than the 3.1% expected. The Fed might cut its key interest rate twice this year, starting in September, according to a stronger majority of economists polled by Reuters who broadly raised their inflation forecasts for a second consecutive month.
Australian gold prices fell by 1.09% (-$39.06 per oz) to AUD 3535.28 at the US close.
Australian silver prices were flat trading near AUD 42.66 at the US close.
The current Gold and Silver Ratio is 82.63
Current AUD/USD is 0.66063
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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