Current Prices: Gold USD 2013.94/oz (AUD 3048.79) And Silver USD 24.66/oz (AUD 37.33)
Gold prices hit a six-month high on Monday as a softer dollar and expectations of a pause in the Federal Reserve’s monetary tightening helped bullion consolidate above the key $2,000 an ounce level. Spot Gold gained 0.5% trading near $US2012 an ounce at the US close. Silver jumped 1.4% trading near $24.62 per ounce.
US share markets edged lower on Monday ahead of a key US inflation reading and commentary from US Federal Reserve policymakers later in the week. With around an hour left of trade, the Dow Jones index was down by 68.3 points or 0.2%, the S&P 500 index also dipped 0.2% and the Nasdaq index was up slightly by 10 points or 0.1%.
US government bond yields fell on Monday after a weaker-than-expected report on the US housing market. Traders also weighed a raft of US government debt sales. The US Treasury sold $US54 billion of 2-year notes at a yield of 4.887% into weak demand. And $US55 billion of 5-year notes were sold at a yield of 4.42% into strong demand. The US 10-year Treasury yield fell by 9 points to 4.39%. And the US 2-year Treasury yield dipped 6 points to 4.90%.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar lifted from US65.72 cents to US66.12 cents and was near US66.10 cents in late US trade.
In US economic data, new home sales fell by 5.6% in October to a 679,000 annualised pace (survey: -5.1%). The Dallas Fed manufacturing index dipped from -19.2 in October to -19.9 in November (survey: -16).
Australian gold prices rose by 0.35% ($10.60 per oz) to AUD 3049 at the US close.
Australian silver prices jumped 1.10% ($0.41 per oz) to AUD 37.33 at the US close.
The current Gold and Silver USD Ratio is 81.79
Current AUD/USD is 0.66067
Gold Price in AUD Chart
Silver Price in AUD Chart
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
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