Current Prices: Gold USD 1959.62/oz (AUD 3011.77) And Silver USD 23.45/oz (AUD 36.09)
Gold price steadied below one-week highs on Wednesday, weighed by a stronger dollar, but fresh US inflation data seems to support views that the US Federal Reserve may be done with raising interest rates. Spot Gold was down by 0.2%, trading near $US1959.32 an ounce at the US close. Silver however rose 1.47% to $23.42 per ounce at the close.
US share markets extended gains on Wednesday, US retail sales slowed in October and prior months were revised higher suggesting some resiliency going into the holiday season. With an hour left of trade, the Dow Jones index was up by around 175 points or 0.5%, the S&P 500 index gained 0.3% and the Nasdaq index added around 25 points or 0.2%.
US government bond yields rebounded on Wednesday. The 10-year Treasury yield rose by 9 points to 4.54%. And the US 2-year Treasury yield lifted 10 points to 4.92%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar slid from US65.34 cents to US64.83 cents and was near US65.10 cents in late US trade.
In US economic data, retail sales fell by 0.1% in October (survey: -0.3%). The producer price index (PPI) dipped 0.5% in October (survey: +0.1%). The annual growth rate eased from 2.2% to 1.3% (survey: 1.9%). The core PPI (ex-food, energy & trade) was up 0.1% in October (survey: +0.2%). The annual core PPI fell from 3% to 2.9% (survey: 2.8%). Business inventories lifted 0.4% in September (survey: +0.4%). The Empire State manufacturing index rose from -4.6 to +9.1 in November (survey: -3).
Australian gold prices fell by 0.18% ($5.28 per oz) to AUD 3011.53 at the US close.
Australian silver prices rose by 1.46% ($0.52 per oz) to AUD 36.00 at the US close.
The current Gold and Silver USD Ratio is 83.66
Current AUD/USD is 0.65103
Gold Price in AUD Chart
Silver Price in AUD Chart
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
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