Gold Futures Slump Most in Six Weeks as U.S. Home Sales Jump

PT. Equityworld Futures - Gold futures fell the most in six weeks as signs of a recovery in the U.S. economy curbed demand for the precious metal as an alternative asset. Silver dropped to the lowest since mid-March.
Sales of previously owned homes jumped in March to the highest since September 2013, figures from the National Association of Realtors showed Wednesday. The dollar pared losses against a basket of 10 currencies, while gold dropped to a one-week low. The metal fell 2.5 percent in March as the greenback climbed for the ninth straight month.
Gold futures for June delivery fell 1.3 percent to settle at $1,186.90 an ounce at 1:50 p.m. on the Comex in New York, the biggest drop for a most-active contract since March 6. Earlier, the metal touched $1,185, the lowest since April 14.
Estimated trading for the contract was 261,646 contracts with the highest volume shortly after the housing data was related at 10 a.m.
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Gold Rises as Growing Risk of Greece Default Spurs Haven Demand

PT. Equityworld Futures - Gold futures climbed the most in more than a week on mounting concern that Greece will stumble in its bid to avoid default, boosting demand for the metal as a haven.
The European Central Bank is studying measures to rein in emergency funding for Greek banks as resistance to further aid to the country’s stricken lenders grows, people with knowledge of the discussions said. A Saudi airstrike near Yemen’s capital added to haven demand. On Monday, holdings in exchange-traded products backed by gold rose to 1,621.7 tons, the highest since March 25, data compiled by Bloomberg showed.
Gold futures for June delivery rose 0.8 percent to settle at $1,203.10 an ounce at 1:43 p.m. on the Comex in New York, the biggest gain for a most-active contract since April 10. The price has climbed 1.6 percent this year amid speculation that U.S. interest-rate increases will be gradual.
As of April 1, Russia’s central bank added to reserves about 30 tons, the most in six months, compared with the start of March.
Silver futures for May delivery rose 0.7 percent to $16.008 an ounce on the Comex.
On the New York Mercantile Exchange, platinum futures for July delivery rose 0.3 percent to $1,152.50 an ounce. Palladium futures for June delivery advanced 0.3 percent to $774.55 an ounce.
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Gold Rebounds From Biggest Decline in Six Weeks on Haven Buying

PT. Equityworld Futures - Gold futures recovered from the biggest drop in six weeks as signs of slowing economic growth from China to the U.S. spurred demand for haven assets.
Purchases of new U.S. homes slumped more than forecast in March, while manufacturing slowed in the euro area and China in April, separate reports showed Thursday. The economic data reignited demand for gold after prices on Wednesday fell the most in six weeks amid positive figures for American housing.
Signs of uneven growth in the U.S. have prompted speculation that the Federal Reserve will wait longer to raise interest rates, while central banks in Europe and Asia have expanded stimulus efforts to combat the slowdown. Investors increased their holdings in exchange-traded funds backed by gold for four straight sessions, and the assets are poised to rise in April for the third time in four months.
Gold futures for June delivery added 0.6 percent to settle at $1,194.30 an ounce at 1:45 p.m. on the Comex in New York. The metal is heading for the first monthly gain since January amid the global economic concerns.
Futures dropped 29 percent in the previous two years as the dollar surged and inflation remained muted. Prices climbed 70 percent from December 2008 to June 2011 partly as the Fed held rates near a record low. Higher rates boost the appeal of assets with better yield prospects such as bonds and equities, while cutting the allure of gold, which generally offers returns only through price gains.
The metal fell 2.5 percent in March as the greenback climbed for the ninth straight month. The dollar declined as much as 0.7 percent against a basket of 10 currencies on Thursday.
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Gold Hold Above $1,200 as Inflation Weighed With China Stimulus

PT. Equityworld Futures - Gold held above $1,200 an ounce amid concern that U.S. inflation may boost the case for higher rates, countering expectations of a rise in demand as Greek debt talks remain deadlocked and China steps up stimulus.
Bullion for immediate delivery was at $1,205.30 an ounce at 2:24 p.m. in Singapore from $1,204.22 on Friday, when it completed a 0.3 percent weekly decline, according to Bloomberg generic pricing. Gold in Shanghai extended a weekly advance.
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Gold Rises as Growing Risk of Greece Default Spurs Haven Demand

PT. Equityworld Futures - Gold futures climbed the most in more than a week on mounting concern that Greece will stumble in its bid to avoid default, boosting demand for the metal as a haven.
The European Central Bank is studying measures to rein in emergency funding for Greek banks as resistance to further aid to the country’s stricken lenders grows, people with knowledge of the discussions said. A Saudi airstrike near Yemen’s capital added to haven demand. On Monday, holdings in exchange-traded products backed by gold rose to 1,621.7 tons, the highest since March 25, data compiled by Bloomberg showed.
Gold futures for June delivery rose 0.8 percent to settle at $1,203.10 an ounce at 1:43 p.m. on the Comex in New York, the biggest gain for a most-active contract since April 10. The price has climbed 1.6 percent this year amid speculation that U.S. interest-rate increases will be gradual.
As of April 1, Russia’s central bank added to reserves about 30 tons, the most in six months, compared with the start of March.
Silver futures for May delivery rose 0.7 percent to $16.008 an ounce on the Comex.
On the New York Mercantile Exchange, platinum futures for July delivery rose 0.3 percent to $1,152.50 an ounce. Palladium futures for June delivery advanced 0.3 percent to $774.55 an ounce.
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Gold Declines With Precious Metals on Rally by Equities, Dollar

PT. Equityworld Futures - Gold futures fell the most in a week as rallies by equities and the dollar reduced demand for precious metals as alternative investments.
U.S. and European shares rose after China’s central bank cut lenders’ reserve requirements by the most since the global financial crisis. The dollar rose for the first time in a week against a basket of 10 currencies. Gold fell 2.5 percent in March as the greenback climbed for the ninth straight month. Silver, platinum and palladium slumped Monday.
Gold futures for June delivery fell 0.8 percent to settle at $1,193.70 an ounce at 1:48 p.m. on the Comex in New York, the biggest drop for a most-active contract since April 9. The metal declined for three straight quarters amid concern that the Federal Reserve will raise interest rates.
U.S. monetary policy will remain accommodative once the central bank lifts interest rates, likely in 2015, New York Federal Reserve President William C. Dudley said in a speech Monday at the Bloomberg Americas Monetary Summit.
Silver futures for May delivery fell 2.1 percent to $15.889 an ounce on the Comex. Earlier, the price touched $15.82, the lowest since March 19.
On the New York Mercantile Exchange, platinum futures for July delivery dropped 1.6 percent to $1,148.80 an ounce, the biggest decline since March 30.
Palladium futures for June delivery fell 1.3 percent to $772.40 an ounce, the largest slump since April 8.
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Crude Oil Caps Biggest Weekly Gain in Four Years as Rigs Drop

PT. Equityworld Futures - Oil capped the biggest weekly advance in more than four years in New York on speculation that the drop in U.S. rigs will crimp production.

Futures climbed 7.9 percent this week amid expectations that the idling of U.S. rigs is spurring a slowdown that will trim the global surplus. Shale output will fall in May, the Energy Information Administration said, the first time the agency forecast a drop since it began publishing a monthly drilling report in 2013. Oil services provider Schlumberger Ltd. said it will cut an additional 11,000 jobs.

Oil slipped 1.7 percent Friday after global equity markets slipped as Chinese regulators tightened rules and on renewed concern over Greece’s debt negotiations. U.S. supplies rose to the highest level in 85 years and Saudi Arabia pumped the most crude in three decades in March, reports showed this week.

West Texas Intermediate for May delivery fell 97 cents to settle at $55.74 a barrel on the New York Mercantile Exchange. Prices posted their biggest weekly gain since February 2011. Futures touched $57.42 Thursday, the highest level since Dec. 23.

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U.S. Stocks Fall Amid Global Selloff on AmEx, Inflation Concerns

PT. Equityworld Futures - U.S. stocks retreated amid a global selloff, falling the most three weeks, as American Express Co. tumbled, data signaled stronger inflation and China tightened trading rules.

The Standard & Poor’s 500 Index fell 1.1 percent to 2,081.11 at 4 p.m. in New York, below its average price for the past 50 days.

The S&P 500 was little changed yesterday after approaching its all-time high. While equity indexes from Asia to Europe have climbed to multiyear highs in recent days, the S&P 500 and Dow last hit theirs on March 2, the same day the Nasdaq Composite Index topped 5,000 for the first time in 15 years. The 32-day stretch without celebrating a fresh high is the S&P 500’s longest since July 2013.

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Gold Futures Advance on Haven Appeal Amid Greek Debt Concerns

PT. Equityworld Futures - Gold futures rose on demand for a haven as Greece remained locked in negotiations to secure funding and avoid a default.
Greek government bonds were set for their worst week since the aftermath of the Syriza party’s election in January. The nation faces payments of almost 1 billion euros ($1.1 billion) next month. Earlier, gold climbed as much as 0.8 percent to $1,207.80 an ounce.
Two Federal Reserve officials have said that a recent run of weak U.S. economic data makes them wary of raising borrowing costs too soon, reinforcing forecasts that the Fed will wait until September to tighten. Higher interest rates damp the appeal of gold, which generally offers returns only through price gains.
Gold futures for June delivery climbed 0.4 percent to settle at $1,203.10 at 1:50 p.m. on the Comex in New York. The metal has climbed 5.4 percent from a four-month low of $1,141.60 on March 17.
The cost of living in the U.S., excluding fuel and food, rose 0.2 percent in March, signaling that inflation is starting to firm. Some investors buy gold as a hedge against higher consumer prices.
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Gold Falls Fourth Time in Five Days as Rising Dollar Cuts Demand

PT. Equityworld Futures - Gold futures declined for the fourth time in five sessions after a rise in the dollar cut demand for the metal as an alternative investment.
The Bloomberg Dollar Spot Index climbed to a three-week high as signs of a slowdown in China highlighted the diverging fortunes of the world’s two biggest economies, enhancing the appeal of the U.S. currency.
Gold has posted two straight monthly declines after the greenback rose to the highest since at least 2004 against a basket of 10 currencies and concern mounted on prospects for higher U.S. borrowing costs. Speculation that global central banks will push for more economic stimulus helped limit declines in bullion on Monday.
On the Comex, gold futures for June delivery slid 0.4 percent to settle at $1,199.30 an ounce at 1:45 p.m. in New York.
Fed policy makers were split at last month’s meeting on when to begin raising rates. Rising rates curb gold’s appeal because the metal generally only offers returns through price gains, prompting investors to favor assets with better yield prospects such as equities and bonds.
Silver futures for May delivery slid 0.6 percent to $16.291 an ounce on the Comex. The metal has posted two straight weekly declines.
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Citigroup: '2016 to 2020 Period Could Be Supportive for Gold'

PT. Equityworld Futures - This year hasn't been a banner one for gold, with the precious metal advancing just 1 percent so far, but the precious metal might fare better next year, says Citigroup analyst Jon Bergtheil.
A strong dollar, low inflation and expectations of a Federal Reserve interest-rate increase later this year have put a lid on gold in 2015.
The precious metal has been trading around $1,200.
"Gold is still extremely vulnerable during 2015, but the 2016 to 2020 period could be supportive for gold," Bergtheil writes in a report obtained by MarketWatch.
Gold is suffering now because massive global central bank easing hasn't sparked inflation as was expected, he said. U.S. consumer prices were unchanged in the 12 months through February.
"Money printing had almost always resulted in inflation but in today's excess global production capacity environment and with the oil price having collapsed, that inflation has been deferred," he notes.
But once all the monetary stimulus and currency devaluations overseas lead to inflation and oil prices stabilize next year, gold will benefit, Bergtheil maintains.
He notes that the precious metal has shown strength this year in not succumbing to the dollar's surge.
"When indexed to January 2014, peer metals silver, platinum and base metals are all still clustered closely to the [inverse] U.S. dollar index in April 2015. Gold, by contrast, dislocated from these other metals and from the dollar in the past year."
Some experts say recent U.S. economic weakness is supporting gold too. That weakness has led economists to forecast a more gradual process of interest-rate increases by the Federal Reserve. Lower rates often boost gold because they are more conducive to inflation.
The central bank has kept its federal funds rate target at a record low of zero to 0.25 percent since December 2008. Many economists predict the Fed won't raise rates until September. And some go even further than that.
"There are a growing number of traders and market watchers who believe the U.S. Federal Reserve will not be able to raise interest rates in 2015, due to the lackluster growth of the U.S. economy," Jim Wyckoff, an analyst at Kitco.com, a precious metals web site, writes in a commentary obtained by The Wall Street Journal.
"A less hawkish Fed . . . has in recent years been a major bullish factor for the gold and silver markets."
The economy grew only 2.2 percent in the fourth quarter, and some analysts predict the figure will be much lower for the first quarter.
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Gold Futures Drop to Two-Week Low on Fed Interest-Rate Outlook

PT. Equityworld Futures - Gold futures fell to the lowest in almost two weeks on speculation that a smaller-than-expected gain in U.S. retail sales won’t be enough to keep the Federal Reserve from raising interest rates this year.
Purchases at U.S. retailers increased 0.9 percent, the first gain in four months, after a 0.5 percent drop in February, government figures showed Tuesday. The median forecast of 87 economists surveyed by Bloomberg called for a 1.1 percent advance.
Gold futures for June delivery fell 0.6 percent to settle at $1,192.60 an ounce at 1:48 p.m. on the Comex in New York, after reaching $1,183.50, the lowest since April 1.
Silver futures for May delivery declined 0.8 percent to $16.161 an ounce on the Comex, also the fifth loss in six sessions.
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Gold Climbs for First Time in Four Days After ETP Holdings Rises

PT. Equityworld Futures - Gold advanced for the first time in four days after holdings in exchange-traded products backed by bullion posted the largest increase in more than six weeks.
On Thursday, gold-backed ETP holdings rose by 3.9 metric tons, the most since Feb. 23, to 1,620.1 tons, according to data compiled by Bloomberg. Holdings in the SPDR Gold Trust, the top bullion ETP, had the biggest jump in two months.
Gold futures had a fourth straight weekly increase, the longest rally since July, as investors assess economic data to determine when the Federal Reserve is likely to boost borrowing costs. Higher rates curb bullion’s appeal because it only offers returns through price gains. A government report last week showed U.S. hiring cooled, giving support to the view that the Fed will delay increases.
Gold futures for June delivery increased 0.9 percent to settle at $1,204.60 an ounce at 1:46 p.m. on the Comex in New York. The metal fell 2.1 percent in the prior three sessions.
ETP holdings increased by 21.7 tons so far this year after declining 164.4 tons in 2014, a second annual drop. The Bloomberg Dollar Spot Index, a gauge of the greenback’s strength against 10 major counterparts, climbed a second day, gaining 0.2 percent. Bullion typically moves inversely to the U.S. currency.
Silver futures for May delivery rose 1.3 percent to $16.382 an ounce on the Comex. Holdings in silver-backed ETPs gained 4.7 tons on Thursday.
On the New York Mercantile Exchange, palladium futures for June delivery advanced 1.8 percent to $776.05 an ounce. Platinum for July delivery gained 1.2 percent to $1,170.60 an ounce.
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Gold Near One Week Low as US Rate Hike Bets Boost Dollar

PT. Equityworld Futures - Gold hovered near a one-week trough on Friday and was set to snap a three-week rally, pressured by renewed expectations for a U.S. rate hike this year despite recent soft economic data. 
Spot gold was little changed at $1,194.71 an ounce by 0017 GMT, after slipping to a session low of $1,192.30 on Thursday. Bullion is down 1.3 percent so far this week following a three-week rise. U.S. gold for June delivery was also nearly flat at $1,194.60 an ounce.
Bullion prices were back to levels where they were before the release of much softer-than-expected U.S. employment data last week. That lifted gold to a seven-week high above $1,220 on Monday as investors pared back forecasts for a U.S. rate increase following the dismal jobs number.
The non-interest bearing metal took a hit from comments from Federal Reserve officials which suggested that a rate hike in June could still be in play, along with minutes of the Fed's March meeting that opened the door to an increase during that month.
Gold prices could drop to five-year lows this year, extending two years of decline before they rebound in 2016 on a demand recovery in Asia, GFMS analysts at Thomson Reuters said.
Gold demand in the world's biggest consumer India risks falling for a second straight year in 2015, as millions of Indian farmers hit by erratic weather and falling commodity prices trim purchases.
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Gold Climbs for First Time in Four Days

PT. Equityworld Futures - Gold advanced for the first time in four days after holdings in exchange-traded products backed by bullion posted the largest increase in more than six weeks.
On Thursday, gold-backed ETP holdings rose by 3.9 metric tons, the most since Feb. 23, to 1,620.1 tons, according to data compiled by Bloomberg. Holdings in the SPDR Gold Trust, the top bullion ETP, had the biggest jump in two months.
Gold futures are heading for a fourth straight weekly increase, the longest rally since July, as investors assess economic data for signals on when the Federal Reserve is likely to boost borrowing costs. Higher rates curb bullion’s appeal because it only offers returns through price gains. A government report last week showed U.S. hiring cooled, giving support to the view that the Fed will delay increases.
Gold futures for June delivery increased 1.3 percent to $1,209.10 at 9:39 a.m. on the Comex in New York. The metal fell 2.1 percent in the prior three sessions.
ETP holdings increased by 21.7 tons so far this year after declining 164.4 tons in 2014, a second annual drop. The Bloomberg Dollar Spot Index, a gauge of the greenback’s strength against 10 major counterparts, climbed a second day, gaining 0.2 percent. Bullion typically moves inversely to the U.S. currency.
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Gold Fall to Lowest in a Week as Fed Minutes Fuel Rate Concerns

PT. Equityworld Futures - Gold futures fell to a one-week low after minutes from the Federal Reserve’s last meeting fueled concern that policy makers are moving closer to raising interest rates.
Fed officials were split last month over whether they would boost rates in June, the minutes released on Wednesday showed. Holdings in exchange-traded products backed by gold fell to 1,616.1 metric tons, a three-month low, according to data compiled by Bloomberg. The dollar rose to the highest in a week against a basket of 10 currencies.
Gold futures are heading for the first weekly decline since March 13. A government report last week showed U.S. jobs growth cooled in March, providing temporary support for prices. Metals traders are scrutinizing economic data for more signals on the timing of rate increases, which cuts the appeal of bullion because it only offers returns through price gains.
Bullion futures for June delivery dropped 0.8 percent to settle at $1,193.60 an ounce at 1:44 p.m. on the Comex in New York. Prices earlier touched $1,192.40, the lowest since April 1.
Silver futures for May delivery fell 1.7 percent to $16.176 an ounce on the Comex, capping a third straight loss. Prices touched $16.105, the lowest since March 20.
Platinum futures for July delivery lost 0.8 percent to $1,157 an ounce on the New York Mercantile Exchange. Palladium futures for June delivery climbed 0.9 percent to $762.40 an ounce, the third gain in four days.
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Gold Futures Fall From Seven-Week High as Dollar Strengthens

PT. Equityworld Futures - Gold retreated from the highest in almost seven weeks as the dollar strengthened, reducing demand for the metal as an alternative investment.
The greenback headed for the biggest gain since mid-March against a basket of six currencies, a day after a private report showing expansion in U.S. service industries eased concerns on the economy. Holdings in exchange-traded products backed by gold fell 1.8 metric tons on Monday to 1,618.7 tons, the lowest since Jan. 15, according to data compiled by Bloomberg.
Gold dropped for three straight quarters amid speculation that an improving U.S. economy is pushing the Federal Reserve closer to raising interest rates for the first time since 2006. Richmond Fed President Jeffrey Lacker, who suggested on March 31 that the case for boosting rates will remain “strong” at the June meeting, said Friday that a report showing slower U.S. hiring didn’t alter his view on policy.
Gold futures for June delivery fell 0.7 percent to settle at $1,210.60 an ounce at 1:44 p.m. on the Comex in New York. The price reached $1,224.50 on Monday, the highest since Feb. 17, after U.S. payrolls data fell short of economists’ projections in an April 3 report.
Silver futures for May delivery slid 1.6 percent to $16.84 an ounce on the Comex, the second loss in three sessions.
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Gold Declines as Some Fed Officials Favor Raising Rates in June

PT. Equityworld Futures - Gold declined after minutes from the Federal Reserve’s last meeting showed some policy makers favored raising U.S. interest rates as soon as June.
The precious metal has fallen out of favor with investors who anticipate that rates will rise this year. Holdings in exchange-traded products backed by gold are at the lowest since mid-January, while U.S. government data shows open interest for New York futures and options has declined in the past two months.
Gold for immediate delivery fell 0.8 percent to $1,199.26 an ounce at 2:39 p.m. New York time, heading for the biggest loss in a week.
The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, pared losses after the Fed minutes were released. A stronger greenback cuts the appeal of precious metals as an alternative investment.
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Gold Climbed to Week-High as U.S. Jobs Data Clouds Rate Outlook

PT. Equityworld Futures - Gold climbed for a second day after data showing the weakest pace of U.S. hiring in more than a year clouded the outlook for interest-rate increases. Platinum rose to a one-month high as palladium and silver gained.
Bullion for immediate delivery in London increased as much as 1 percent to $1,218.92 an ounce, the highest price since March 26, and traded at $1,217.11 at 11:18 a.m. in Singapore, according to Bloomberg generic pricing. Financial markets in China, Australia and Hong Kong are closed on Monday.
Gold added 2.8 percent this year as investors assessed data for clues on when the Federal Reserve may raise rates, with figures on Friday showing U.S. payrolls expanded the least since December 2013. Fed Chair Janet Yellen and colleagues last month opened the door to a rate increase as soon as June as the economy recovers, while also suggesting in forecasts that September may be more likely. Minutes of the Fed’s March meeting due Wednesday may give more clarity on the bank’s approach.
American companies added 126,000 positions in March, according to the Labor Department report on Friday. The Bloomberg Dollar Spot Index fell for a fourth day on Monday, set for the longest losing streak in nine months.
Gold for June delivery added 1.4 percent to $1,217.10 an ounce on the Comex, while silver for immediate delivery climbed 0.2 percent to $17.1023 an ounce.
Spot platinum gained as much as 2.1 percent to $1,180 an ounce, the highest level since March 6, and traded at $1,174.50. Palladium rallied as much as 2.5 percent to $764.30 an ounce, the highest price since March 27, and was at $758.80.
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Gold Touches Seven-Week High as Job Slowdown Damps Rate Concerns

PT. Equityworld Futures - Gold futures climbed to the highest in almost seven weeks after slower-than-expected hiring in the U.S. boosted speculation that the Federal Reserve will delay raising interest rates. Silver rose to a one-week high.
Employers in March added 126,000 workers, the fewest since December 2013 and short of the 245,000 forecast by economists in a Bloomberg survey, a government report showed Friday.
Gold slid for three straight quarters as a yearlong string of monthly job gains exceeding 200,000, the longest run since 1995, added to signs of an improving U.S. economy. Traders have cut the probability the Fed will raise borrowing costs by September to a 29 percent chance from 34 percent odds before the jobs report.
Gold futures for June delivery added 1.5 percent to settle at $1,218.60 an ounce at 1:42 p.m. on the Comex in New York. Prices earlier touched $1,224.50, the highest since Feb. 17.
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S&P 500 Futures Gain With Emerging Stocks Before Payrolls Data

PT. Equityworld Futures - Standard & Poor’s 500 Index futures gained with emerging-market stocks before the March U.S. payrolls report. Australia’s dollar fell to its weakest level versus the New Zealand currency in at least 30 years.
S&P 500 futures added 0.2 percent at 9:54 a.m. in London. The MSCI Emerging Markets Index climbed 0.4 percent, set for its biggest weekly gain in a year as South Korean and Russian shares rose. The Bloomberg Dollar Spot Index was little changed after sliding 0.6 percent Thursday. The Aussie fell to as low as NZ$1.0094. Markets across Asia, the U.S. and Europe are closed for holidays Friday.
Economists project that U.S. non-farm payrolls rose by 245,000 in March, while the unemployment rate held at an almost seven-year low.
The Bloomberg gauge tracking the dollar against 10 of its most-traded peers retreated 1.6 percent since the Fed’s March 19 meeting, when the central bank cut its outlook for rates. The euro bought $1.0881 Friday, while the yen was little changed at 119.68 per dollar.
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Gold Advances to Week-High as U.S. Jobs Data Clouds Rate Outlook

PT. Equityworld Futures - Gold climbed to the highest level in more than a week as data showing the weakest U.S. hiring additions in more than a year clouded the outlook for interest-rate increases. Platinum rose to a one-month high.
Bullion for immediate delivery increased as much as 1 percent to $1,218.92 an ounce, the highest since March 26, before trading at $1,218.69 by 8:54 a.m. in Singapore, according to Bloomberg generic pricing. Markets in Australia, China and Hong Kong are closed on Monday.
Gold added 2.9 percent this year as investors assessed data for clues on when the Federal Reserve may raise rates. Fed Chair Janet Yellen and her colleagues last month opened the door to an interest-rate increase as soon as June, while also suggesting in forecasts that September may be a more likely time. Minutes of the Fed’s March meeting due Wednesday may give more clarity on the central bank’s approach.
American companies added 126,000 positions in March, the least since December 2013, according to the Labor Department on Friday. The Bloomberg Dollar Spot Index fell for a fourth day on Monday, set for the longest losing streak in nine months.
Gold for June delivery added 1.5 percent to $1,218.40 an ounce on the Comex, while silver for immediate delivery climbed 0.3 percent to $17.118 an ounce.
Spot platinum gained as much as 2.1 percent to $1,180, the highest since March 6, before trading at $1,178.50. Palladium rose 2.5 percent to $764.30 an ounce, the biggest advance since March 18.
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China Stock-Index Futures Rise Following Fourth Weekly Advance

PT. Equityworld Futures - China stock-index futures rose as the benchmark Shanghai gauge headed for a fourth weekly gain.
Futures on the CSI 300 Index expiring in April advanced 0.1 percent to 4,107.40 as of 9:25 a.m. China Vanke Co., the nation’s biggest listed property developer, may be active after saying profit fell as much as 61 percent in the first quarter from a year earlier.
The Shanghai Composite Index gained 0.4 percent to 3,825.78 on Thursday, taking its climb this week to 3.7 percent. The CSI 300 Index rose less than 0.1 percent.
Margin traders increased holdings of shares purchased with borrowed money Thursday, with the outstanding balance of margin debt on the Shanghai Stock Exchange rising by 1.2 percent to a record 1.02 billion yuan.
The 14-day relative strength measure for the Shanghai index, measuring how rapidly prices have advanced or dropped during a specified time period, was at 78.2 Thursday. Readings above 70 indicate a price may be poised to fall.
The online sports-lottery operator rose 18 percent on Thursday in New York to $12.29, its biggest jump in 11 weeks. 500.com paced gains on the Bloomberg index of the most-actively traded Chinese companies on U.S. exchanges, which added 1.4 percent for a second day of advances. The gauge increased 1.6 percent for the week as U.S. stock trading is closed for a holiday Friday.
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Gold Falls Most in Three Weeks on Outlook for Higher U.S. Rates

PT. Equityworld Futures - Gold fell the most in three weeks as the dollar strengthened and investors speculated that the Federal Reserve will raise interest rates this year. Silver slid.
Federal Reserve Chair Janet Yellen said Friday she expects rates to be raised this year and that subsequent increases will be gradual without following a predictable path. Higher borrowing costs cut bullion’s allure because the metal generally offers returns only through price gains. The Bloomberg Dollar Spot Index rose for a third day.
Gold for June delivery lost as much as 1.4 percent, the most since March 6, to $1,183.30 an ounce. It traded at $1,183.50 by 7:44 a.m. on the Comex in New York. Bullion for immediate delivery fell 1.2 percent to $1,183.77, according to Bloomberg generic pricing.
Short positions, or bets on lower prices, climbed for a seventh week to the highest in data going back to 2006, U.S. Commodity Futures Trading Commission data showed.
Gold declined on Friday in London to end the longest run of gains since 2012. Prices reached a three-week high on March 26 as Saudi Arabia and its allies started bombing targets in Yemen.
Holdings in gold-backed exchange-traded products rose on Friday for the first time in four days, according to data compiled by Bloomberg.
Silver futures slumped 2.5 percent to $16.635 an ounce on the Comex, reaching the lowest in a week. Platinum lost 1.6 percent to $1,122 an ounce, heading for a third straight quarterly loss.
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Gold Declines as Investors Weigh Rates Outlook, Dollar Advances

PT. Equityworld Futures - Gold dropped for a second day after Federal Reserve Chair Janet Yellen said that she expects interest rates to rise this year in the world’s biggest economy, boosting the dollar for a third day. Silver retreated.
Bullion for immediate delivery fell as much as 0.2 percent to $1,195.91 an ounce and was at $1,197.50 at 8:44 a.m. in Singapore, according to Bloomberg generic pricing. While the metal lost 0.5 percent on Friday to snap the longest run of gains since 2012, it is still set to post the first quarterly rise since June. Gold in Shanghai dropped for a second day.
Gold rose to a three-week high on March 26 as Saudi Arabia headed a coalition of 10 Sunni-led nations attacking Shiite rebels in Yemen, spurring haven demand on concern the conflict may disrupt oil supplies. Yellen said Friday that she expects the central bank to raise rates this year, and that subsequent increases will be gradual without following a predictable path. Short holdings in gold climbed for a seventh week to a record, Commodity Futures Trading Commission data showed.
Gold for June delivery lost 0.3 percent to $1,196.80 on the Comex. Bullion of 99.99 percent purity lost 0.3 percent to 239.80 yuan a gram ($1,200.10 an ounce) on the Shanghai Gold Exchange.
Silver for immediate delivery dropped 0.2 percent to $16.9194 an ounce and is set to climb 7.6 percent this quarter. Platinum was little changed at $1,136.75 an ounce, heading for a third straight quarterly loss. Palladium declined 0.3 percent to $739.25 an ounce, set for a quarterly drop.
Sumber : ewfpro.com

Gold Futures Slump Most in Three Weeks as Investor Demand Wanes

PT. Equityworld Futures - Gold fell the most in three weeks on signs that investors are balking at the metal even after a recent rally.
Hedge funds cut their net-long position to the lowest since December 2013 and are holding the most short wagers since records begin in 2006, U.S. government data show. Global assets in exchange-traded products backed by gold dropped 56.6 metric tons in March, the most in 15 months. Prices rallied in the previous two weeks on speculation that U.S. interest rates would rise at a slower pace than expected.
Even after Federal Reserve policy makers cut their outlook for where borrowing costs will be by year-end, investors are betting that officials will still lift benchmark rates from near zero fast enough to prevent inflation from surging as the economy rebounds. Gold has historically been used as a hedge against higher consumer prices.
Gold futures for June delivery dropped 1.3 percent to settle at $1,185.30 an ounce at 1:40 p.m. on the Comex in New York, the biggest drop since March 6.
A core measure of consumer prices, which excludes food and fuel, rose 1.4 percent in February from a year earlier, Commerce Department figures showed Monday.
Sumber : ewfpro.com