Current Prices: Gold USD 2158.20/oz (AUD 3304.95) And Silver USD 24.92/oz (AUD 38.16)
Gold prices retreated on Tuesday as the dollar strengthened a day before the Federal Reserve signals its interest rate stance at the end of the U.S. central bank’s two-day policy meeting. Spot gold fell 0.2% trading near $US 2157 an ounce at the US close and silver fell by 0.52% trading near $US 24.90 an ounce.
In US share markets the Dow Jones index rose by 320 points or 0.8%, the S&P 500 index gained 0.6% to a record closing high, and the Nasdaq index added 63 points or 0.4%.
US government bond yields ticked down on Tuesday from their near-February highs, as traders look ahead to the US Federal Reserve’s press conference on Wednesday for signs of its interest rate path for the rest of the year. The US Treasury sold $US13 billion of 20-year bonds at a yield of 4.542% into strong demand. The US 10-year Treasury yield fell by 5 points to 4.29%. The US 2-year Treasury yield slid 5 points to 4.69%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar firmed from US65.03 cents to US65.34 cents and was near US65.30 cents at the US close.
In US economic data, housing starts jumped 10.7% in February, the most since May, to a 1.52 million annualised rate (survey: 1.44 million). Yesterday we had Reserve Bank of Australia (RBA) left rates unchanged as expected but watered down its guidance over the likelihood of further rate hikes.
Australian gold prices up by 0.29% ($9.67 per oz) to AUD 3303.05 at the US close.
Australian silver prices were slightly down by 0.05% ($0.02 per oz) to AUD 38.14 at the US close.
The current Gold and Silver Ratio is 86.64
Current AUD/USD is 0.65308
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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