Current Prices: Gold USD 2044.80/oz (AUD 3088.41) And Silver USD 25.03/oz (AUD 37.82)
Gold prices firmed near its highest in about seven months on Wednesday. Spot Gold was up 0.1% trading near $US 2044 an ounce at the US close. Silver fell 0.1% trading near $US 24.99 per ounce.
US share markets edged higher on Wednesday. With less than an hour left of trade, the Dow Jones index was up by 13 points, the S&P 500 index gained 0.1% and the Nasdaq index slipped into negative territory.
US government bond yields were lower on Wednesday. The Fed’s Beige Book showed a slowdown in economic activity in recent weeks as consumers pulled back on discretionary spending. The US 10-year Treasury yield fell by 6 points to 4.27%. And the US 2-year Treasury yield dipped 9 points to 4.65%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar dipped from US66.53 cents to US66.06 cents and was near US66.20 cents in late US trade.
In US economic data, the economy, as measured by GDP grew at an annual rate of 5.2% in the September quarter (survey: 5%), the fastest pace of expansion since the fourth quarter of 2021. On Wednesday the Fed’s Bank of Atlanta President Raphael Bostic said he expects U.S. growth to slow and inflation to continue to ease on the back of tight monetary policy.
Australian gold prices rose by 0.65% ($20.10 per oz) to AUD 3089.73 at the US close.
Australian silver prices gained by 0.44% ($0.16 per oz) to AUD 37.80 at the US close.
The current Gold and Silver USD Ratio is 81.75
Current AUD/USD is 0.66177
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
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