Current Prices: Gold USD 2031.50/oz (AUD 3106.99) And Silver USD 22.54/oz (AUD 34.46)
Gold prices struggling to build on gains from last week as investors braced for a key US inflation reading this week that could influence the outlook for Federal Reserve monetary policy. Spot gold fell by 0.21% trading near $US 2030 an ounce at the US close and silver dropped by 1.87% trading near $US 22.51 an ounce.
In US share markets with less than an hour left of trade on Wall Street, the Dow shed 7 points or essentially flat, the S&P 500 index dipped 0.2% and the Nasdaq index was close to 0.1% higher.
US government bond yields rose on Monday as investors demanded higher yields to take on a large supply of government coupon debt. The US Treasury sold $ US63bn of 2-year notes at a yield of 4.691% into solid demand. And a record $ US64bn of 5-year notes were also auctioned at a yield of 4.32% into tepid demand. The US 10-year Treasury yield rose by 4 points to 4.30% and the US 2-year Treasury yield lifted 5 points to 4.74%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar fell from US65.58 cents to US65.29 cents and was near US65.35 cents in late US trade.
In US economic data, new home sales rose by 1.5% in January to a 661,000 annual pace (survey: 684,000). The Dallas Federal Reserve manufacturing index rose from -27.4 to -11.3 in February (survey: -15).
Australian gold prices rose by 0.16% ($4.95 per oz) to AUD 3105.90 at the US close.
Australian silver prices fell by 1.50% ($0.53 per oz) to AUD 34.44 at the US close.
The current Gold and Silver Ratio is 90.22
Current AUD/USD is 0.65397
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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