PT. Equityworld Futures - Gold
futures recovered from a six-week low amid speculation that weaker
economic growth will prompt officials to add to stimulus in China, which
rivals India as the world’s top bullion buyer.
Futures are rebounding
after three weeks of declines. The Federal Reserve has damped
speculation that it will delay boosting interest rates. Traders are
awaiting the April U.S. payrolls report on Friday for more signals on
the timing of increases for borrowing costs. Higher rates drive
investors to favor assets that pay interest, such as bonds, curbing
gold’s appeal as a store of value, since it generally offers returns
only through price gains.
On the Comex in New
York, gold futures for June delivery rose 1 percent to settle at
$1,186.80 an ounce at 1:47 p.m. On May 1, the price touched $1,168.40,
the lowest for a most-active contract since March 20.
Employers in the U.S.
added 225,000 workers last month, up from 126,000 in March, according to
the median estimate in a Bloomberg survey of economists before the
Labor Department report on May 8. The unemployment rate may decline to
5.4 percent from 5.5 percent.
Sumber : ewfpro.com
