Asian Stocks Retreat From Five-Month High Before Yellen Speech

PT. Equityworld Futures - Asian stocks declined, with the regional benchmark index retreating from a five-month high, as investors await progress on Greece’s bailout extension and testimony to Congress by Federal Reserve Chair Janet Yellen.
Sands China Ltd. sank 2 percent in Hong Kong, pacing losses among casino operators after Credit Suisse Group AG predicted Macau gaming revenue will be weak during the Lunar New Year holiday. Takata Corp. slumped 2.6 percent in Tokyo after U.S. regulators said they will begin to fine the car-parts maker for not fully cooperating with an investigation into exploding airbags. Medical-equipment maker Terumo Corp. added 1.1 percent after a report operating profit may climb to a record.
The MSCI Asia Pacific Index slipped 0.1 percent to 144.90 as of 4:23 p.m. in Hong Kong after rising as much as 0.3 percent. The gauge advanced 1.5 percent last week, while the Standard & Poor’s 500 Index and Dow Jones Industrial Average climbed to all-time highs. Euro-area finance ministers reached an agreement intended to keep aid flowing to Greece for four months in return for a commitment to budget targets, buying time to work out the details of longer-term financing.
Investors will receive further clues on the Fed’s assessment of the U.S. economy and the timing of a rate increase when the central bank’s Yellen gives two days of testimony to Congressional finance committees starting Tuesday.
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Gold Holds Above $1,200 as Investors Assess Rate Outlook, Greece

PT. Equityworld Futures - Gold traded above $1,200 an ounce before Federal Reserve Chair Janet Yellen addresses lawmakers in remarks that may give signals about the interest rate outlook and as investors tracked Greek efforts to secure bailout funds.
Bullion for immediate delivery was at $1,203.97 an ounce at 9:33 a.m. in Singapore from $1,201.83 on Monday, according to Bloomberg generic pricing. Prices fell to $1,191.19 on Feb. 23, the lowest since Jan. 5, as Greece sought a deal with creditors to unlock further cash by the end of the month.
Yellen is scheduled to testify in the Senate on Tuesday and in the House of Representatives the following day. She will probably provide an update on the central bank™s view after policy makers signaled at their Jan. 27-28 meeting they™re willing to keep interest rates low for longer given risks to the economy. Higher borrowing costs cut gold™s allure because the metal generally offers returns only through price gains.
Many central bank officials pointed to risks ranging from a stronger dollar to the turmoil in Greece as weakening the case for the first rate rise since 2006, according to the record of the bank™s January meeting, released on Feb. 18.
Greece™s month-old government submitted a draft list of new economic measures to creditor institutions on Monday offered in exchange for four months of additional funding. The proposals need to be validated by the International Monetary Fund, the European Central Bank and the European Commission, and then put to national parliaments for formal consent.
Gold for April delivery added 0.2 percent to $1,203.50 an ounce on the Comex. The most-active contract fell as much as 1.2 percent to $1,190.60 on Monday, the lowest since Jan. 5.

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Gold Drops to Seven-Week Low on Greek Accord as Platinum Falls

PT. Equityworld Futures - Gold futures fell to a seven-week low after Greece reached a provisional accord on a bailout with euro-area finance ministers, reducing demand for the metal as a haven. Platinum dropped to the cheapest in five years.
Gold has dropped below $1,200 an ounce after last month topping $1,300, partly on speculation that Greece would reach a debt agreement. The metal fell as the dollar gained amid bets the Federal Reserve will raise interest rates this year. Fed Chair Janet Yellen is scheduled to speak Tuesday in the Senate and the following day in the House.
On the Comex in New York, gold futures for April delivery fell 0.3 percent to settle at $1,200.80 at 1:40 p.m. Earlier, the price touched $1,190.60, the lowest for a most-active contract since Jan. 5.
Aggregate trading was 30 percent below the average for the past 100 days for this time, according to data compiled by Bloomberg.

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European Stocks Advance as Euro-Area Ministers Discuss Greece

PT. Equityworld Futures - European stocks extended a seven-year high as Greek Finance Minister Yanis Varoufakis faced his euro-area counterparts in Brussels to seek an agreement that will let Europe™s most-indebted country avoid default.
The Stoxx Europe 600 Index rose 0.2 percent to 382.27 at the close of trading, for a 1.4 percent weekly gain. The gauge is up for a third week, its longest streak since the beginning of December. The ASE Index lost 0.3 percent, erasing an earlier rise, after Maltese Finance Minister Edward Scicluna said Germany and its allies are ready to let Greece leave the euro unless Prime Minister Alexis Tsipras accepts the conditions required to extend his country™s financial support.
The Stoxx 600 has surged 12 percent this year, even as volatility has increased after Greece elected a new government that is now renegotiating the terms of its aid package. The VStoxx Index, which tracks expectations for equity swings, has had a daily average of about 25.4 in 2015. That™s 40 percent greater than in 2014.
An agreement on extending Greece™s bailout program, which expires at the end of February, appears unlikely, leading to more talks on Sunday or Monday, a European Union official said. A preliminary round was œvery difficult, Dutch Finance Minister Jeroen Dijsselbloem, who heads the Eurogroup, told reporters
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Gold Trims Fourth Weekly Decline on Greece & U.S. Rate Outlook

PT. Equityworld Futures - Gold advanced to pare the longest run of weekly losses in 17 months as investors weighed the outlook for an agreement on Greece™s funding and the timing of a U.S. rate increase amid signs of economic growth.
Bullion for immediate delivery added as much as 0.3 percent to $1,209.84 an ounce and traded at $1,206.49 by 12:10 p.m. in Singapore, according to Bloomberg generic pricing. Prices are down 1.9 percent this week and a fourth straight decline would be the longest run since September 2013.

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Gold Drops Below $1,200 as Optimism on Greece Cuts Haven Demand

PT. Equityworld Futures - Gold futures fell below $1,200 an ounce as Greece and European finance ministers reached an accord on a bailout extension, eroding demand for the precious metal as a haven.
The metal posted the fourth straight weekly decline, the longest slump since early October. On Wednesday, the price touched 1,197.20, the lowest since Jan. 5, partly on signs of declining demand in China. Earlier Friday, gold climbed as much as 0.6 percent after Malta™s finance chief said a German-led bloc is willing to let Greece leave the euro.
Gold futures for April delivery dropped 0.2 percent to settle at $1,204.90 at 1:49 p.m. on the Comex in New York. After the close, the price touched $1,197.70.
This year, the metal has climbed 1.8 percent as Greek turmoil spurred currency volatility. Tension in the region also signaled sluggish economic growth, boosting the appeal of gold as a store of value.

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Gold turns up as Fed minutes show patience on rate hike

PT. Equityworld Futures - Gold rose on Wednesday, rebounding above a six-week low after minutes from the Federal Reserve's latest meeting showed policymakers were concerned about raising interest rates too soon.

Minutes from the Federal Open Market Committee's January meeting expressed concern that raising interest rates too soon could pour cold water on the U.S. economic recovery. Policy makers also fretted over the impact of dropping "patient" from the central bank's interest rate guidance.

Spot gold rose 0.1 percent to $1,209.56 an ounce at 3:07 p.m. EST (2007 GMT), after earlier falling to a six-week low at $1,197.56. U.S. gold futures for April delivery settled down $8.40, or 0.7 percent, at $1,200.20 an ounce.

Platinum prices also rose after sliding to their lowest in 5-1/2 years.

Gold has come under pressure from expectations the Fed will raise interest rates as early as June, potentially lifting the dollar and boosting the opportunity cost of holding non-yielding assets like bullion.

Earlier, gold prices had extended the prior day's steep losses as hopes for a resolution to Greece's debt talks sent European stocks to a seven-year high. Prices found technical support at the 61.8 percent Fibonacci retracement level from the January high to the November low.

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Gold Climbs With Silver as Fed Minutes Show Rates May Stay Low

PT. Equityworld Futures - Gold futures rose the most this month after minutes from the Federal Reserve™s January meeting showed policy makers argued for keeping interest rates near record lows for longer. Silver advanced.
Bullion for April delivery added as much as 1.9 percent, the most since Jan. 30, to $1,222.90 an ounce. It was at $1,221 by 7:34 a.m. on the Comex in New York, after touching a six-week low of $1,197.20 on Wednesday.
Gold for immediate delivery climbed 0.7 percent to $1,220.86 in London, according to Bloomberg generic pricing.
Prices gained 3.1 percent on the futures market this year, partly as turmoil over Greece spurred haven demand. The country™s government submitted a request to its euro-area creditors to extend the availability of bailout funds for six months in a last-ditch effort to avert a cash crunch. Germany rejected Greece™s request, saying its offer doesn™t meet the euro region™s conditions for continuing aid.

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Gold Futures Tumble to Six-Week Low on Signs China’s Demand Ebbs

PT. Equityworld Futures - Gold futures fell to a six-week low approaching $1,200 an ounce on speculation that Chinese demand will fall during the Lunar New Year holiday. Silver tumbled, and platinum dropped to the cheapest in more than five years.
Volume in the Shanghai Gold Exchange™s benchmark spot contract dropped to the lowest in a year. Markets in China, the world™s second-biggest buyer, will be closed for five sessions starting Wednesday. Investors assessed the risks from a breakdown in talks between Greece and its creditors as U.S. equities traded close to a record high.
Gold futures for April delivery fell 1.5 percent to settle at $1,208.60 at 1:54 p.m. on the Comex in New York. Earlier, the price touched $1,203.30, the lowest for a most-active contract since Jan. 6. Floor trading was closed on Monday for the U.S. Presidents™ Day holiday.

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Greek PM Meet EU Leaders About Bailout

PT. Equityworld Futures - New Greek Prime Minister leftist Alexis Tsipras direct confrontation with the head of the European Union on Thursday (12/2) in respect loosen the austerity measures which they wore against Greece as a condition of massive bailouts.
EU leaders meet in Brussels where for the first time, a meeting between the leaders of Greece, aged 40 years, and German Chancellor Angela Merkel, leader of efforts to save it. German leaders and the heads of other countries are not interested in cutting Greece's debt or renegotiate a loan of $ 300 billion.
When he arrived at the EU summit, Tsipras said, "I want to tell Europe stands at a crucial point for the future. We need to find a solution that respects the positions of all parties, so that the agreement must be based on the core European values, democracy and the voice of the people , but also to respect the interests of European rules. "
Earlier, the talks between Greece and its creditors Europe ended Wednesday without a compromise on a massive bailouts and austerity measures imposed on Athens. Both parties even failed to agree on a joint statement after a 7 hour emergency talks between Greek Finance Minister Yanis Varoufakis and euro zone finance ministers in Brussels.
Jeroen Dijsselbloem, chairman of euro zone finance ministers, said not enough progress was made even though only about what to talk about when the two sides meet again on Monday.
"We did not really discuss the details of the proposal, we do not negotiate about the content of the program or programs, we are just trying to take the next steps in the next few days. And that we did not manage to do so," said Dijsselbloem.
Instead, Greece wants the lenders - all 18 countries of the European Union, the European Central Bank and the International Monetary Fund - to provide temporary loan in a few months. Greece says it takes time to menegosiakan changes to program the required savings to the state; where wages and pensions cut, tax increases and thousands of civil servants laid off.
Greece's new left-wing government, elected last month, asking to renegotiate loan amounting to $ 300 billion instead of trying to extend it when the latest segment ends in late February.

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Gold Futures Rise as U.S. Consumer Sentiment Ebbs; Silver Jumps

PT. Equityworld Futures - Gold futures rose for the second straight day as weaker U.S. consumer confidence added to concerns that the economy is slowing, boosting demand for the precious metal as a haven. Silver jumped the most in four weeks.

The Thomson Reuters/University of Michigan preliminary sentiment index decreased to 93.6 from a final January reading of 98.1 that was the highest since the start of 2004, figures showed Friday. A report on Thursday revealed that sales at U.S. retailers fell more than forecast in January.

Gold dropped 29 percent in the previous two years, posting consecutive annual losses for the first time since 1998. Faster U.S. expansion prompted some investors to lose faith in the metal as a store of value amid speculation that the Federal Reserve would raise interest rates. Prices rebounded 8 percent in January as slowing foreign economies cast doubt that American growth would remain resilient.

Gold futures for April delivery climbed 0.5 percent to settle at $1,227.10 an ounce at 1:38 p.m. on the Comex in New York. Yesterday, the price rose 0.1 percent.

This week, the price dropped 0.6 percent, the third straight decline.

Silver futures for March delivery jumped 3 percent to $17.294 an ounce, the biggest gain for a most-active contract since Jan. 16.
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Gold Demand Declines as China Loses Biggest-Buyer Spot to India

PT. Equityworld Futures - Gold demand fell for a third year on a slump in purchases from China, costing the country its place as the world™s biggest buyer.

Global demand slid 4 percent to a five-year low of 3,923.7 metric tons in 2014, the World Gold Council said in a report Thursday. In China, purchases of bars and coins for investment dropped by 50 percent and jewelry buying retreated from a record, according to the London-based group.

The strengthening dollar and prospects for higher U.S. interest rates have curbed gold™s appeal as a protection of wealth, leading to two years of falling prices. While the metal has rebounded over the past three months, it™s still within 10 percent of a four-year low.

Gold rose 3.2 percent to $1,222.62 an ounce in London this year, India took China™s spot as biggest buyer of the metal, reclaiming the position it last held in 2012, after jewelry demand jumped to the highest level since at least 1995.

Purchases of necklaces, bracelets and earrings by Indian shoppers rose 8 percent even amid import restrictions, while Chinese consumers bought 33 percent less. Combined bar and coin investment was down 50 percent in both countries.

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Gold Rebounds From One-Month Low as Greek Talks Reach Impasse

PT. Equityworld Futures - Gold rebounded from the lowest level in a month as European leaders failed to agree on Greece™s bailout program after talks in Brussels.
Bullion for immediate delivery rose as much as 0.4 percent to $1,223.57 an ounce and traded at $1,223.35 at 9:35 a.m. in Singapore on Thursday, according to Bloomberg generic pricing. Earlier, bullion fell to $1,215.30, the lowest level since Jan. 9, after the dollar advanced to 10-year high.
Gold climbed 3.3 percent this year as the Greek crisis and more stimulus in Europe and Asia offset the impact of a stronger dollar and prospects for higher U.S. rates. Euro-region finance ministers failed at the meeting to reach an agreement on how to keep bailout funds flowing to Greece and are set to resume talks next week. The impasse risks leaving Greece without funding by the end of this month, when the current bailout expires.
Eurogroup Chairman Jeroen Dijsselbloem said that while the ministers covered a lot of ground, they didn™t reach a joint conclusion on how to take the next steps. A Greek official said that no agreement had been made and the government won™t accept an extension of the existing bailout program.
The Bloomberg Dollar Spot Index was at 1,173.92 from 1,174.87 on Wednesday, the highest close since at least December 2004. The gauge is 3.8 percent higher this year amid speculation that the Federal Reserve will start to increase borrowing costs.
Gold for April delivery rose 0.3 percent to $1,223.10 an ounce on the Comex after dropping on Wednesday to $1,216.50, the lowest price since Jan. 9.
Silver for immediate delivery added 0.2 percent to $16.8416 an ounce. Spot platinum was 0.3 percent higher at $1,197.25 an ounce, rebounding from $1,192 on Wednesday, the lowest level since Jan. 2. Palladium rose 0.3 percent to $770.95 an ounce.

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Gold Futures Drop to One-Month Low as Dollar Rally Curbs Demand

PT. Equityworld Futures - Gold futures fell to the lowest in almost a month as gains for the dollar cut demand for the precious metal as an alternative asset.
The dollar climbed to a 10-year high against a basket of 10 counterparts as traders sought safety from volatility in emerging markets. Investors favored the U.S. currency over gold as signs of a stronger American economy increase the likelihood that the Federal Reserve will raise interest rates for the first time since 2006.
Gold dropped 29 percent in the previous two years, posting the first consecutive annual decline since 1998 as equities surged to a record and the U.S. economy gained traction. Higher rates cut gold™s allure because the metal generally offers investors returns only through price gains. A government report Tuesday that showed gains for American job openings underscored the thriving labor market.
Gold futures for April delivery fell 1 percent to settle at $1,219.60 an ounce on the Comex in New York, after touching a four-week low of $1,218.20.

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Gold Prices Rise With Silver as Concern on Greek Standoff Mounts

PT. Equityworld Futures - Gold and silver futures rose for the first time in three sessions as a dispute between Greece™s prime minister and international lenders escalated, boosting demand for the precious metals as a haven.

Greece™s bonds and stocks fell as Prime Minister Alexis Tsipras showed little sign of backing down in a standoff with creditors as he began three days of debates on his government™s policy plans. In January, gold rose 8 percent, partly on European economic concerns.

Holdings in global exchange-traded products backed by gold increased on Friday to a four-month high, according to data compiled by Bloomberg. They have climbed 5 percent this year. The spot price of the metal priced in euros has gained 12 percent this year.

Gold futures for April delivery rose 0.6 percent to settle at $1,241.50 an ounce at 1:48 p.m. on the Comex in New York. The price dropped 2.4 percent in the previous two sessions on gains in the U.S. economy.

Greece will seek about 10 billion euros ($11.3 billion) in short-term financing in an effort to stave off a cash crunch.

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Gold Advances as Investors Assess Ukraine to Greece After Jobs

PT. Equityworld Futures - Gold rebounded as Greek Prime Minister Alexis Tsipras reaffirmed his government™s rejection of the country™s bailout program and concern increased that Ukraine™s conflict may worsen, spurring demand for haven assets.

Bullion for immediate delivery added as much as 0.4 percent to $1,238.98 an ounce and was at $1,238.64 at 9:20 a.m. in Singapore, according to Bloomberg generic pricing. Prices fell to $1,228.48 on Feb. 6, the lowest level since Jan. 15, after data showed the U.S. added more jobs than forecast in January, boosting expectations that the Federal Reserve will move toward the first interest-rate increase since 2006.

Greece™s Tsipras vowed to increase the minimum wage and halt infrastructure privatizations on Sunday, putting him on a collision course with creditors before an emergency meeting with euro-area finance ministers. Ukraine™s almost yearlong conflict enters a pivotal week with discussions to resume on Monday in Berlin aimed at preparing a summit for the leaders of Germany, France, Russia and Ukraine in Minsk, Belarus, on Feb. 11.

Ukraine, the U.S. and the European Union say Russia is supporting separatists in Ukraine™s east. Almost 5,400 people have died in the fighting since April, according to the United Nations. This week™s diplomatic effort comes as the U.S. and some European allies consider supplying arms to Ukraine.

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Asian Stocks Slide After China Trade Data; Topix Rallies on Yen

PT. Equityworld Futures - Asian stocks slid as China trade figures showed signs of weakness in the region™s biggest economy. Japanese equities rallied on a weaker yen after U.S. payrolls topped estimates.

Benchmark indexes in Seoul, Sydney and Wellington slipped at least 0.4 percent as of 9:01 a.m. in Tokyo. Japan™s Topix index climbed 0.8 percent, leaving the MSCI Asia Pacific Index little changed at 141.24. China™s imports plunged by the most in more than five years and exports unexpectedly fell, a report over the weekend showed. Futures on the FTSE China A50 Index dropped 0.7 percent in most recent trading in Singapore.

The Topix rallied as the yen traded at 119.04 per dollar, after declining 1.3 percent on Friday. The greenback surged as odds of a Federal Reserve interest-rate increase as early as June rose on Friday™s jobs report, which showed payroll gains in January capped the biggest three-month increase in 17 years.

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Gold Extends Gains as China Easing, Greece Debt Fan Haven Demand

PT. Equityworld Futures - Gold climbed for a second day after the People™s Bank of China joined central banks acting to counter slower growth, and policy makers in Europe tightened the terms of Greece™s bailout, boosting demand for a haven.

Bullion for immediate delivery rose as much as 0.4 percent to $1,274.18 an ounce, and traded at $1,272.39 at 9;10 a.m. in Singapore, extending Wednesday™s 0.7 percent gain, according to Bloomberg generic pricing. The metal rebounded from a two-day, 1.8 percent drop even as the Bloomberg Dollar Spot Index rose.

Gold for April delivery advanced 0.7 percent to $1,273.30 an ounce on the Comex in New York, after climbing 0.3 percent a day earlier.

Silver for immediate delivery rose 0.5 percent to $17.456 an ounce. Spot platinum gained 0.2 percent to $1,243.63 an ounce and palladium increased 0.3 percent to $794.75 an ounce.

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Gold Rises for First Time in Three Days on China Monetary Easing

PT. Equityworld Futures - Gold futures rose for the first time in three days as China took steps to shore up economic growth amid signs of a deepening slowdown, boosting demand for the metal as a store of value.

China reduced the amount of cash lenders must set aside as reserves in a bid to increase liquidity, following capital outflows and weaker manufacturing. Gold pared earlier gains of as much as 1 percent after a report showed U.S. service industries expanded at a faster pace last month.

The metal in January jumped the most in three years as concern mounted that Greece would exit the euro area and officials in Europe and Asia announced stimulus to bolster stagnating economies. Imports by India, the world™s second-biggest user, surged in the 10 months ended Jan 31 after the government eased curbs on purchases.

On the Comex in New York. gold futures for April delivery rose 0.3 percent to settle at $1,264.50 an ounce at 1:51 p.m. Aggregate trading was 25 percent below the 100-day average, according to data compiled by Bloomberg. The price fell 1.5 percent in the previous two days on concern that U.S. interest rates will increase soon.

Last year, gold posted a consecutive annual decline for the first time since 1998 as the U.S. economy gained traction and equities surged to a record.

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Gold Falls as Global Equities Rose on Easing Greek Debt Concerns

PT. Equityworld Futures - Gold futures declined for the second straight day as easing concerns on Greek debt boosted global equities, reducing demand for alternative assets.

Greek Finance Minister Yanis Varoufakis proposed late on Monday to exchange existing debt for new bonds linked to economic growth. The MSCI All-Country World Index and the Standard & Poor™s 500 Index of U.S. stocks both rose as much as 1.3 percent.

Gold in January capped the biggest monthly gain in three years as concern that Greece would exit from the euro zone and signs of slowing economies outside the U.S. fueled demand for haven assets. The metal fell on Monday on concern that U.S. interest rates will increase soon.

Gold futures for April delivery fell 1.3 percent to settle at $1,260.30 an ounce at 1:51 p.m. on the Comex in New York. The metal dropped 0.2 percent on Monday.

Last year, gold posted a consecutive annual decline for the first time since 1998 as equities surged to a record and the U.S. economy gained traction.

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China’s Stock-Index Futures Fall on PMI Contraction, Minsheng

PT. Equityworld Futures - China™s stock-index futures fell after an official manufacturing gauge signaled the first contraction in more than two years and China Minsheng Banking Corp. President Mao Xiaofeng resigned amid a media report that he is being investigated by authorities.

Futures on the CSI 300 Index expiring in February declined 2.5 percent to 3,370 as of 9:17 a.m. The Shanghai Composite Index slid 1.6 percent to 3,210.36 on Jan. 30, extending last week™s loss to 4.2 percent, the most since December 2013, amid concern regulatory scrutiny of margin lending and tepid economic growth will curb the benchmark index™s world-beating rally.

China™s outstanding margin debt dropped for the first time in eight days on Jan. 30 in Shanghai, according to data from the city™s bourse. It dropped 0.5 percent to 773.98 billion yuan ($123 billion) from a record 777.6 billion yuan on Jan. 29.

Hong Kong™s Hang Seng China Enterprises Index fell 0.1 percent on Jan. 30, taking last week™s decline to 4.4 percent. The CSI 300 Index slipped 1.4 percent, while the Hang Seng Index dropped 0.4 percent. The Bloomberg China-US Equity Index, the measure of the most-traded U.S.-listed Chinese companies, retreated 1.6 percent in New York.

The government™s Purchasing Managers™ Index fell to 49.8 last month from 50.1 in December, missing the median estimate of 50.2 in a Bloomberg survey of analysts and below the 50 level separating expansion and contraction.

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Gold Drops for Third Time in Four Sessions on U.S. Rate Concern

PT. Equityworld Futures - Gold futures fell for the third time in four sessions on concern that U.S. policy makers will raise interest rates amid signs of economic growth.

Sales of American Eagle gold coins by the U.S. Mint fell 11 percent last month from a year earlier. Data due Feb. 6 will probably show U.S. employers added 230,000 workers last month, according to economists surveyed by Bloomberg.

A statement from the Federal Reserve on Jan. 28 that cited œsolid U.S. growth damped speculation that the central bank would delay raising interest rates. The next day, gold tumbled 2.4 percent, the most since December 2013. The metal jumped 8 percent in January as officials in Europe and Asia announced stimulus to bolster stagnating economies.

Gold futures for April delivery fell 0.2 percent to settle at $1,276.90 an ounce at 1:58 p.m. on the Comex in New York. Aggregate volume was 33 percent below the 100-day average, according to data compiled by Bloomberg.

The metal pared losses of as much as 1 percent after the Institute for Supply Management said its manufacturing index declined to 53.5 in January from 55.1 in December, a sign weakness in overseas markets is restraining U.S. factory output.

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Gold Holds Biggest Monthly Climb Since 2012 Amid Growth Concern

PT. Equityworld Futures - Gold held the biggest monthly gain in three years as data from China and the U.S. that missed estimates added to signs the global economy is faltering, supporting demand for haven assets.

Bullion for immediate delivery traded at $1,281.18 an ounce at 9:50 a.m. in Singapore from $1,283.79 on Jan. 30, when prices completed an 8.4 percent monthly advance for the best start to a year since 2012, according to Bloomberg generic pricing. The metal climbed on Jan. 22 to a five-month high of $1,307.62.

Gold posted the first back-to-back monthly advance in January in a year as assets in exchange-traded products jumped 4.1 percent, the most since July 2011. Data this week may show employers in the U.S. continued to add workers in January, while manufacturing probably moderated. Greek Prime Minister Alexis Tsipras, in office for about a week, is seeking a new deal with the government™s creditors amid concern that failure to reach an agreement may spur the country to quit the euro.

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