Current Prices: Gold USD 2019.50/oz (AUD 3071.30) And Silver USD 22.81/oz (AUD 34.70)
Gold prices held steady on Friday as investors’ attention shifted to the U.S. Federal Reserve’s policy meeting due next week for more insights into the interest rate outlook. Spot gold was flat trading near $US2018.33 an ounce at the US close. However, it was down 0.55% for the week. Silver on the other hand fell 0.48% trading near $US 22.79 per ounce at the US close and Silver jumped 0.81% for the week.
US share markets were mixed on Friday. The benchmark S&P 500 index ended a five-session streak of record highs. The S&P 500 index dipped 0.1% and the Nasdaq index shed 55 points or 0.4%. But the Dow Jones index rose by 60 points or 0.2%, closing at an all-time high. For the week, the Dow gained 0.7%, the S&P 500 added 1.1% and the Nasdaq climbed 0.9%, posting their third straight weekly gains.
US government bond yields rose on Friday, led by shorter-dated maturities as data showed US personal spending topped market estimates -even as the core PCE deflator slowed to an almost three-year low. The US 10-year Treasury yield rose by 1 point to 4.14%. The US 2-year Treasury yield lifted 4 points to 4.36%. Over the week, the 10-year yield rose by 1 point with the 2-year yield down 3 points.
Currencies were mixed against the US dollar in European and US trade. The Aussie dollar fell from US66.08 cents to session lows near US65.75 cents at the US close.
In US economic data, personal income lifted 0.3% in December (survey: +0.3%). Personal spending was up 0.7% (survey: +0.5%). The PCE core deflator rose by 0.2% in December (survey: +0.2%) and was 2.9% higher than a year ago (survey: 3%, prior: 3.2%), the smallest gain since March 2021. Pending home sales jumped 8.3% in December (survey: +2%).
Australian gold prices were flat trading at AUD 3068.58 at the US close.
Australian silver prices fell by 0.40% ($0.14 per oz) to AUD 34.66 at the US close.
The current Gold and Silver Ratio is 88.58
Current AUD/USD is 0.65754
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
Gold (Yellow) vs Silver (White) vs ASX200 (Green) Rolling 12 Month Returns
To follow our market commentary and more, create a free trading account online HERE.
Featured Product
Follow Us On Socials
Disclaimers: Guardian Gold, Registered Office, Scottish House, 100 William Street, Melbourne, Victoria, 3000. ACN 138618176 (“Guardian Vaults” & “Guardian Gold”) All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher and/or the author. Information contained herein is believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation. Guardian Gold, its officers, agents, representatives and employees do not hold an Australian Financial Services License (AFSL), are not an authorised representative of an AFSL and otherwise are not qualified to provide you with advice of any kind in relation to financial products. If you require advice about a financial product, you should contact a properly licensed or authorised financial advisor. The information is indicative and general in nature only and is prepared for information purposes only and does not purport to contain all matters relevant to any particular investment. Subject to any terms implied by law and which cannot be excluded, Guardian Gold, shall not be liable for any errors, omissions, defects or misrepresentations (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (direct or indirect) suffered by persons who use or rely on such information. The opinions expressed herein are those of the publisher and/or the author and may not be representative of the opinions of Guardian Gold, its officers, agents, representatives and employees. Such information does not take into account the particular circumstances, investment objectives and needs for investment of any person, or purport to be comprehensive or constitute investment or financial product advice and should not be relied upon as such. Past performance is not indicative of future results. Due to various factors, including changing market conditions and/or laws the content may no longer be reflective of current opinions or positions. You should seek professional advice before you decide to invest or consider any action based on the information provided. If you do not agree with any of the above disclaimers, you should immediately cease viewing or making use of any of the information provided.