PT. Equityworld Futures - Gold
fell, paring gains after a three-week rally, as Goldman Sachs Group
Inc. said low inflation and higher U.S. interest rates will drag down
prices later this year.
Goldman
cut its estimates for 2016 and 2017, predicting that prices will
average $1,089 and $1,050 an ounce, according to a Jan. 23 report. The
New York-based bank said bullion will be supported at current levels for
the next few months, citing weaker-than-expected U.S. economic data and
more stimulus from the European Central Bank.
Bullion
for immediate delivery declined 0.6 percent to $1,294.47 per ounce at
11:06 a.m. in London, according to Bloomberg generic pricing. Prices are
near the highest level since August after climbing 1.1 percent this
week.
Gold
has jumped 9.3 percent this year as stagnating economies challenged
policy makers to find new ways to buoy growth. ECB President Mario
Draghi pledged to buy 60 billion euros ($67 billion) every month through
September next year in a push to put more cash in circulation and
revive inflation.
Federal
Reserve policy makers meet next week to discuss interest rates as
inflation hovers below a 2 percent target and the economy shows
improvement.
Gold
for February delivery dropped 0.4 percent to $1,296.20 on the Comex.
Traders and analysts surveyed by Bloomberg were positive on gold for the
eighth straight week, with the number of bullish responses outstripping
bearish ones by 15 to 8.
Silver
for immediate delivery retreated 0.5 percent to $18.2508 per ounce.
Prices are set for a third weekly increase, the longest rally since
July. Palladium fell 0.6 percent to $772 per ounce. Platinum lost 0.8
percent to $1,275.70 per ounce.
Sumber : ewfpro.com
