Current Prices: Gold USD 1977.92/oz (AUD 3036.23) And Silver USD 23.67/oz (AUD 36.34)
Gold prices held steady on Friday but headed for their biggest weekly gain in four as the dollar and Treasury yields weakened amid growing expectations that the U.S. Federal Reserve is done with its monetary policy tightening. Spot Gold was trading near $US1980 an ounce at the US close. Gold was up 2.4% for the week. Silver was trading at $23.71 per ounce at the close.
US share markets, the Dow Jones index rose by 2 points or 0.01%, the S&P 500 index gained 0.1% and the Nasdaq index added 12 points or 0.1%. For the week, the Dow Jones rose 1.9%, the S&P 500 added 2.2% and the Nasdaq jumped 2.4%, all notching a third straight week of gains.
US government bond yields dipped on Friday. The US 10-year Treasury yield fell by 1 point to 4.44%. But the US 2-year Treasury yield lifted 5 points to 4.89%. For the week, the 10-year yield dropped 21 points with the 2-year yield down 17 points.
Currencies were stronger against the US dollar in European and US trade. The Aussie dollar lifted from US64.53 cents to US65.15 cents and was near US65.10 cents at the US close.
In US economic data last week, Cooler-than-expected U.S. inflation data on Tuesday and Wednesday hastened market expectations for how soon the Federal Reserve will cut rates. But a reality check came when Federal Reserve Bank of Boston President Susan Collins said on Friday that while evidence is growing that inflation is easing, she was not yet ready to rule out more rate hikes should they be needed.
Australian gold prices fell by 0.69% ($21.17 per oz) to AUD 3040.39 at the US close.
Australian silver prices fell by 0.74% ($0.27 per oz) to AUD 36.73 at the US close.
The current Gold and Silver USD Ratio is 83.55
Current AUD/USD is 0.65133
Gold Price in AUD Chart
Silver Price in AUD Chart
Silver Price in AUD Chart
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
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