Current Prices: Gold USD 2383.70/oz (AUD 3718.50) And Silver USD 28.18/oz (AUD 43.95)
Gold prices hold steady as geopolitical risks counter rate cut concerns. Spot gold was flat trading near $US 2382.54 an ounce at the US close and silver fell by 2.63% trading near $US 28 an ounce.
In US share markets the Dow Jones index rose by 64 points or 0.2%, but the S&P 500 index dipped 0.2% and the Nasdaq index shed 20 points or 0.1%.
US government bond yields rose on Tuesday. The US 10-year Treasury yield rose 4 points to 4.67%, near its highest level since November. The US 2-year Treasury yield lifted 5 points to 4.99%, after hitting 5%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar slid from US64.25 cents to US63.90 cents and was near US64.00 cents at the US close.
In US economic data, industrial production rose 0.4% in March (survey: +0.4%). Housing starts fell 14.7% in March to a 1.32 million annualised rate (survey: 1.485m). Building permits dipped 4.3% in March to a 1.46 million annualised pace (survey: 1.51m). Federal Reserve Chair Jerome Powell told a U.S. Senate panel just over five weeks ago the Fed was “not far” from gaining confidence in inflation falling to the level needed to cut interest rates but policymakers, investors and outside analysts have lost a bit of faith in that outlook in light of a series of strong economic data.
Australian gold prices were up by 0.62% ($23 per oz) to AUD 3722.74 at the US close.
Australian silver prices fell by 2.06% ($0.92 per oz) to AUD 43.90 at the US close.
The current Gold and Silver Ratio is 84.65
Current AUD/USD is 0.64108
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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