PT. Equityworld Futures - Gold
advanced to reduce a weekly loss as mixed U.S. economic reports clouded
the outlook for when the Federal Reserve will boost interest rates.
Bullion
for immediate delivery rose 0.2 percent to $1,207.09 an ounce at 10:11
a.m. in Singapore after falling 0.4 percent on Thursday, according to
Bloomberg generic pricing. The metal is set to decline 1.5 percent this
week, the most since the period to April 24. Gold in Shanghai dropped.
The
metal climbed to a three-month high on Monday before retreating as data
showed that while jobless claims fell to a 15-year low, manufacturing
remains tepid. Minutes of a Fed meeting signaled borrowing costs won’t
be raised in June and growth may pick up after stalling in the first
quarter. Inflation figures for April are due on Friday, when Fed Chair
Janet Yellen is scheduled to speak.
Policy
makers are monitoring labor market progress as part of their dual
mandate, which includes an inflation target. The four-week average for
jobless claims decreased to 266,250 in the period ended May 16 from
271,750, according to the Labor Department on Thursday. The Markit
Economics preliminary May manufacturing index fell to the lowest since
January 2014.
The
consumer price index may show a 0.1 percent rise on the month after a
0.2 percent gain in March, according to a Bloomberg survey. Price
increases excluding food and fuel slowed to 1.7 percent year-on-year
from 1.8 percent in March.
Gold
for June delivery added 0.2 percent to $1,206.30 an ounce on the Comex.
Bullion of 99.99 percent purity fell 0.4 percent to 240.81 yuan a gram
($1,208.56 an ounce) on the Shanghai Gold Exchange, extending a weekly
loss.
Silver
for immediate delivery fell 0.1 percent to $17.1385 an ounce, set for
the first weekly drop in four. Platinum was little changed at $1,154.11
an ounce, while palladium increased 0.1 percent to $781 an ounce.
Sumber : www.ewfpro.com
