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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