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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