Current Prices: Gold USD 1982.40/oz (AUD 3063.02) And Silver USD 23.77/oz (AUD 36.70)
Gold price rose more than 1% on Thursday as the dollar and Treasury yields dipped after U.S. weekly jobless claims increased more than expected, cementing expectations that the Federal Reserve will pause its interest rate hiking cycle. Spot Gold was up by 1.12%, trading near $US1981 an ounce at the US close. Silver also jumped 1.32% to $23.74 per ounce at the close.
US share markets retreated on Thursday. With around an hour left of trade, the Dow Jones index was down by around 125 points or 0.4%, the S&P 500 index dipped less than 0.1% and the Nasdaq index shed around 5 points or 0.1%.
US government bond yields fell on Thursday after the latest US economic figures underscored a gradual slowdown. The US 10-year Treasury yield fell by 9 points to 4.45%. And the US 2-year Treasury yield dropped 7 points to 4.84%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar fell from US65.08 cents to US64.59 cents and was near US64.70 cents in late US trade.
In US economic data, import prices fell by 0.8% in October (survey: -0.3%) with export prices down 1.1% (survey: -0.4%). Initial jobless claims rose by 13k to 231k last week (survey: 220k). Industrial production dipped 0.6% in October (survey: -0.4%). The NAHB housing market index fell from 40 to 34 in November (survey: 40). The Kansas City Fed manufacturing index rose from -8 to -2 in November (survey: -9). The Philadelphia Fed manufacturing index lifted from -9 to -5.9 in November (survey: -8).
Australian gold prices rose by 1.78% ($53.57 per oz) to AUD 3063.93 at the US close.
Australian silver prices gained by 2.00% ($0.72 per oz) to AUD 36.73 at the US close.
The current Gold and Silver USD Ratio is 83.49
Current AUD/USD is 0.64723
Gold Price in AUD Chart
Silver Price in AUD Chart
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
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