Market Updates

Markets were whipsawed this week, with everything from cryptocurrencies to large cap equity market indices seeing some of their biggest crashes on record. The proximate cause of the spike in the volatility was the move by the Bank of Japan (BOJ) to both hike interest rates and decrease the amount of government bonds it would purchase going forward.

Precious metal prices rallied strongly this week, with gold pushing back toward all-time highs, as tensions in the Middle East and market expectations around the commencement of an interest rate cutting cycle by the US Federal Reserve (the Fed) combined to push the yellow metal higher.

Precious metals sold off sharply this week, with gold (-4%) and silver (-9%) witnessing one of their sharpest pullbacks on record, after a strong six months to start 2024 that has seen both precious metals rise by more than 20%.

Precious metal prices powered higher in early week trading, with gold at one point hitting new all-time highs in USD terms, above USD $2,450 per troy ounce (oz).

Precious metal prices have risen in the first week of the new financial year, led by silver, which has increased by 5% in USD terms, and is now back trading above USD $30 per troy ounce (oz).
Gold was also stronger, rising by 1% to USD $2,355oz, while in Australian dollar terms, the precious metal is trading above AUD $3,500oz.

With two days to go in the financial year, both gold and silver are on track to record bumper gains, with the two precious metals up by 22% (gold) and 27% (silver) respectively in the last 12 months.

Precious metals were back in bull market mode, with gold and silver rising by 2% (gold) and 5% (silver) respectively in USD terms. The rally in precious metal prices saw silver reclaim the critical USD $30oz price point, with the gold silver ratio falling to 77.

Precious metal markets sold off sharply this week, with the price of gold and silver down by 2% (gold) and 5% (silver) in USD terms. Gold last traded at USD $2,303 per troy ounce (oz), while silver sits at USD $28.90oz, with the gold to silver ratio climbing back to 80.

Precious metal markets had another mixed week, selling off in earlier trade, before recovering most of their losses in the past 24 hours. For the week as a whole, gold is +1% in USD terms, while silver is -1%, with the gold to silver ratio (GSR) edging higher to 76.

Precious metal prices markets were mixed again this week, with gold easing marginally, while silver continued to push higher. While falling 1% for the week in USD terms, gold is still trading above USD $2,300oz, within reach of its all-time high.

Precious metal markets sold off in trading toward the end of this week, with gold -2% in USD terms, last sitting at USD $2,331 per troy ounce (oz). The pullback comes after a surge in gold prices that at one point saw the precious metal trade above USD $2,400oz, with the market consolidating recent gains.

Gold prices rallied strongly this week, with a +3% move pushing the precious metal back toward USD $2,350 per troy ounce (oz). Silver was an even stronger performer, rallying by +8% to USD $28.30oz, with the gold to silver ratio falling to 83 over the past five trading days.

Gold prices continued to ease this week, with the precious metal falling by a further 1% to USD $2,303 per troy ounce (oz). Silver was also on the backfoot, falling by 3% to USD $26.70oz, with the gold to silver ratio rising to 86 over the past five trading days.

Gold prices fell by 2% this week in USD terms, with the precious metal last trading at USD $2,331 per troy ounce (oz). Silver also pulled back, -4% in USD terms to USD $27.40oz, with the gold to silver ratio (GSR) rising to 85.

It has been another positive week in the precious metal market, with gold and silver prices both rising by 1% in USD terms, despite a sharp correction in Monday trade which saw some of the froth that had built in the market in past weeks washed out.

Gold prices surged to another record high this week, with a + 3% rally seeing the precious metal trade at USD $2,373.20 per troy ounce (oz), despite a surge in bond yields. Silver was also stronger, rising by +5%, and now back above USD $28oz, with the gold to silver ratio falling to 84.

Gold prices surged to record highs this week, with the precious metal trading above USD $2,300 and AUD $3,500oz for the first time. Silver also rallied, with a 9% surge seeing prices approach USD $27oz and top AUD $40oz, with the gold to silver ratio (GSR) falling from 90 to 85 in the past five trading days.

Gold prices traded above USD $2,200 and AUD $3,300 per troy ounce (oz) earlier this week, as a dovish US Federal Reserve fuelled the recent precious metal rally. Last trading at USD $2,180oz, gold has since eased from the intra-week high, though is still +1% over the past five trading days.

Gold prices steadied this week, with the precious metal last trading at USD $2,162 per troy ounce (oz). Silver continued to rally, +2% in USD terms, and last trading at USD $24.90oz. In the past month, silver has rallied by 10%, with the gold to silver ratio falling from 89 to 87 over this period.

Precious metal prices moved sharply higher this week, with both gold and silver rallying by 2% in USD terms, with gold currently trading above USD $2,050oz. The move higher has occurred against a backdrop of falling bond yields, with expectations the US Federal Reserve (the Fed) will deliver a slew of interest rate cuts in 2024, with the Fed dropping their tightening bias at their just concluded January meeting.

Precious metal markets continued to confound investors in the last week, with gold at one point charging above USD $2,050oz and looking like it was set to break out.
It then abruptly changed course, with the metal testing (and so far, holding) support at USD $2,000oz, and then rallying higher in the last 24 hours.

Gold and precious metal prices eased this week, falling by 1% and 2% respectively in USD terms. The price action is a continuation of a corrective or steadying period that dates back a month, after both metals moved sharply higher in Q4 of last year.

With Christmas fast approaching and the New Year just over a week away, it looks like being another good year for the precious metal sector, with gold up 10% for the year so far.

Precious metal prices have steadied over the past five trading days, with the market rebounding from a pullback earlier in the week that had seen gold and silver temporarily fall below USD $2,000oz and USD $23 per troy ounce respectively.

The gold market started this week on extremely strong footing, with news of a Houthi rebel attack on a US Warship in the Red Sea causing the precious metal to temporarily spike above USD $2,100oz, a new all-time high.