Gold Climbs for First Time in Four Days

PT. Equityworld Futures - Gold advanced for the first time in four days after holdings in exchange-traded products backed by bullion posted the largest increase in more than six weeks.
On Thursday, gold-backed ETP holdings rose by 3.9 metric tons, the most since Feb. 23, to 1,620.1 tons, according to data compiled by Bloomberg. Holdings in the SPDR Gold Trust, the top bullion ETP, had the biggest jump in two months.
Gold futures are heading for a fourth straight weekly increase, the longest rally since July, as investors assess economic data for signals on when the Federal Reserve is likely to boost borrowing costs. Higher rates curb bullion’s appeal because it only offers returns through price gains. A government report last week showed U.S. hiring cooled, giving support to the view that the Fed will delay increases.
Gold futures for June delivery increased 1.3 percent to $1,209.10 at 9:39 a.m. on the Comex in New York. The metal fell 2.1 percent in the prior three sessions.
ETP holdings increased by 21.7 tons so far this year after declining 164.4 tons in 2014, a second annual drop. The Bloomberg Dollar Spot Index, a gauge of the greenback’s strength against 10 major counterparts, climbed a second day, gaining 0.2 percent. Bullion typically moves inversely to the U.S. currency.
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Gold Fall to Lowest in a Week as Fed Minutes Fuel Rate Concerns

PT. Equityworld Futures - Gold futures fell to a one-week low after minutes from the Federal Reserve’s last meeting fueled concern that policy makers are moving closer to raising interest rates.
Fed officials were split last month over whether they would boost rates in June, the minutes released on Wednesday showed. Holdings in exchange-traded products backed by gold fell to 1,616.1 metric tons, a three-month low, according to data compiled by Bloomberg. The dollar rose to the highest in a week against a basket of 10 currencies.
Gold futures are heading for the first weekly decline since March 13. A government report last week showed U.S. jobs growth cooled in March, providing temporary support for prices. Metals traders are scrutinizing economic data for more signals on the timing of rate increases, which cuts the appeal of bullion because it only offers returns through price gains.
Bullion futures for June delivery dropped 0.8 percent to settle at $1,193.60 an ounce at 1:44 p.m. on the Comex in New York. Prices earlier touched $1,192.40, the lowest since April 1.
Silver futures for May delivery fell 1.7 percent to $16.176 an ounce on the Comex, capping a third straight loss. Prices touched $16.105, the lowest since March 20.
Platinum futures for July delivery lost 0.8 percent to $1,157 an ounce on the New York Mercantile Exchange. Palladium futures for June delivery climbed 0.9 percent to $762.40 an ounce, the third gain in four days.
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Gold Futures Fall From Seven-Week High as Dollar Strengthens

PT. Equityworld Futures - Gold retreated from the highest in almost seven weeks as the dollar strengthened, reducing demand for the metal as an alternative investment.
The greenback headed for the biggest gain since mid-March against a basket of six currencies, a day after a private report showing expansion in U.S. service industries eased concerns on the economy. Holdings in exchange-traded products backed by gold fell 1.8 metric tons on Monday to 1,618.7 tons, the lowest since Jan. 15, according to data compiled by Bloomberg.
Gold dropped for three straight quarters amid speculation that an improving U.S. economy is pushing the Federal Reserve closer to raising interest rates for the first time since 2006. Richmond Fed President Jeffrey Lacker, who suggested on March 31 that the case for boosting rates will remain “strong” at the June meeting, said Friday that a report showing slower U.S. hiring didn’t alter his view on policy.
Gold futures for June delivery fell 0.7 percent to settle at $1,210.60 an ounce at 1:44 p.m. on the Comex in New York. The price reached $1,224.50 on Monday, the highest since Feb. 17, after U.S. payrolls data fell short of economists’ projections in an April 3 report.
Silver futures for May delivery slid 1.6 percent to $16.84 an ounce on the Comex, the second loss in three sessions.
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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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