Current Prices: Gold USD 2387.03/oz (AUD 3715.26) And Silver USD 28.59/oz (AUD 44.50)
Gold prices on track for weekly rise as Middle East risks loom. Spot gold rose by 0.54% trading near $US 2391.69 an ounce at the US close and silver rose by 1.53% trading near $US 28.65 an ounce. For the week gold is up 2.03% and silver is also 2.77% higher.
US share markets were mixed on Friday. The Dow Jones index rose by 211 points or 0.6%, but the S&P 500 index slid 0.9% and the Nasdaq index shed 319.5 points or 2.1%. For the week, the S&P 500 fell 3.1%, the Nasdaq declined 5.5% but the Dow rose 0.01%. The S&P had its biggest weekly decline since March 2023 and the Nasdaq had its largest weekly fall since October 2022.
US government bond yields dipped on Friday. Chicago Fed President Austan Goolsbee said progress on bringing down inflation has “stalled” this year. The US 10-year Treasury yield fell 2 points to 4.62% and the US 2-year Treasury yield was steady near 4.99%. For the week, US 10-year and US 2-year yields rose 10 points.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar lifted from US63.94 cents to US64.31 cents and was near US64.15 cents at the US close.
Overall markets ended last week cautiously with a lack of key economic data meaning a focus on geopolitical events and a preference for safe-haven assets.
Australian gold prices rose by 0.6% ($22.24 per oz) to AUD 3727.30 at the US close.
Australian silver prices rose by 1.62% ($0.71 per oz) to AUD 44.69 at the US close.
The current Gold and Silver Ratio is 83.52
Current AUD/USD is 0.64247
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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