Gold Falls to End Longest Rally in Five Weeks as Equities Climb

PT. Equityworld Futures - Gold futures fell to end the longest rally in five weeks as a 15-year high in U.S. technology stocks cut demand for the precious metal as a haven.
The Nasdaq Composite Index climbed above 5,000 for the first time since 2000 on optimism that consumer spending will advance. Gold dropped 29 percent in the previous two years as the economy gained traction and global equities surged.
On the Comex in New York, gold futures for April delivery dropped 0.4 percent to settle at $1,208.20 an ounce at 1:46 p.m. The price climbed in the previous three sessions, the longest rally since Jan. 20.
Earlier, the metal reached $1,223, the highest for a most-active contract since Feb. 17, after a cut in borrowing costs in China, the world’s second-largest consumer.
The People’s Bank of China lowered the benchmark lending and deposit rates by a quarter percentage point on Saturday. Gold imports by India, the top consumer, may jump to 100 metric tons in March from about 25 tons in February, according to Rajesh Mehta, chairman of Rajesh Exports Ltd.
sumber : ewfpro.com

Chinese Stocks Cap Monthly Gain Before Annual Congress Meeting

PT. Equityworld Futures - Chinese stocks rose, with the benchmark index capping a monthly gain, before the start of the annual National People’s Congress meeting next week. The yuan weakened.
The Shanghai Composite Index added 0.4 percent to 3,310.30 at the close. The gauge rose 3.3 percent during the holiday-shortened month. The measure jumped 2.2 percent yesterday after Premier Li Keqiang called for more active fiscal policy and a central bank publication said extra monetary easing is needed.
China should loosen monetary policy to reduce the impact of the economic slowdown on jobs, according to a commentary in China Securities Journal, while an article in the People’s Bank of China’s newspaper published yesterday said the central bank should cut required reserve ratios for lenders. The country’s export outlook in 2015 is still “grim,” Commerce Minister Gao Hucheng said Thursday.
The CSI 300 Index gained 0.2 percent, while the Hang Seng Index was little changed at 3:13 p.m. local time and the Hang Seng China Enterprises Index dropped 0.2 percent.
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Hong Kong Stock Close Down 0.32 %

PT. Equityworld Futures - Hong Kong stocks ended down 0.32 percent on Friday, reversing the previous day's gains, as Shanghai ended higher ahead of a key meeting next week.
The benchmark Hang Seng Index lost 78.77 points to 24,823.29 on turnover of HK$76,55 billion ($9,87 billion).
Chinese shares ended higher as investors awaited the start of the annual meeting of the National People's Congress, the country's legislature, next week, dealers said.
The benchmark Shanghai Composite Index added 0.36 percent, or 11.94 points, to 3,310.30 on turnover of 335.0 billion yuan ($54.5 billion).
The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.95 percent, or 15.34 points, to 1,630.05 on turnover of 277.3 billion yuan.
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Gold Futures Rebound as U.S. Economy Grows Less Than Estimated

PT. Equityworld Futures - Gold futures rebounded after a government report showed that the U.S. economy expanded at a slower pace than previously estimated in the fourth quarter.
The U.S. grew at a 2.2 percent annualized rate, down from an initial estimate of 2.6 percent, the Commerce Department said Friday. The figure for household consumption was also revised lower.
Slowing American expansion gives the Federal Reserve more room to keep interest rates low, reviving the appeal of precious metals as a store of value. Gold dropped 29 percent in the previous two years as the U.S. economy gained traction, increasing concern that the central bank would raise borrowing costs.
Gold futures for April delivery rose 0.2 percent to settle at $1,213.10 an ounce at 1:37 p.m. on the Comex in New York, after falling as much as 0.5 percent.
sumber : ewfpro.com