Gold Futures Fall Amid Signs of Easing Tensions on Greek Bailout

PT. Equityworld Futures - Gold declined for the third time in four sessions as signs of easing tensions between Greece and its creditors reduced demand for the metal as a haven.

Euro-area finance ministers welcomed progress Greece has made on meeting terms of its bailout while demanding more work before funds can be released, according to two officials. Finance chiefs gathering in Brussels will issue a statement to endorse Greece’s work on a plan to mend its economy, the officials said. Speculation that an aid deal would remain elusive boosted bullion earlier Monday.

Last week, gold rallied on mounting concern that Greece will stumble in its bid to avoid default. Prices also rose last week after a report showing limited wage gains amid increased U.S. hiring indicated the Federal Reserve can take its time in raising interest rates. Higher rates curb gold’s appeal because the metal generally offers returns only through price gains.

Gold futures for June delivery slid 0.5 percent to settle at $1,183 an ounce at 1:48 p.m. on the Comex in New York. The metal climbed 1.2 percent last week.

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Emas Lanjutkan Penguatan Terkait Lemahnya Data Ekonomi

PT. Equityworld Futures - Emas memperpanjang kenaikan untuk sesi ketiga pada Rabu, didorong oleh pelemahan dolar dan data ekonomi AS yang bervariasi menambah spekulasi bahwa Federal Reserve tidak akan menaikkan suku bunga dalam waktu dekat.
Spot emas stabil di level $1,193.86 per ons pukul 07:34 waktu Singapura. Emas naik ke sesi tertingginya di level $1,199.60 pada hari Selasa kemarin.
Dolar berada di bawah tekanan pasca mengecewakan data perdagangan AS untuk Maret, menggambarkan melemahnya pertumbuhan ekonomi pada kuartal pertama.
Data yang dirilis pada hari Selasa menunjukkan defisit perdagangan AS melonjak 43,1 persen menjadi $51.4 miliar pada bulan Maret tertinggi sejak Oktober 2008 lalu. Data lain menunjukkan aktivitas di sektor jasa dipercepat untuk bulan kelima pada bulan April lalu.
Data perdagangan ketakutan pasar ekuitas juga, meningkatkan tawaran safe haven untuk emas.
Data yang lamban menambah spekulasi The Fed tidak akan menaikkan suku bunga pada pertemuan kebijakan berikutnya di bulan Juni, faktor yang bisa meningkatkan permintaan untuk emas batangan, non-bunga-membayar aset.
Investor sekarang menunggu rilis data nonfarm payrolls AS yang akan dirilis pada Jumat pekan ini. Data ini mendapatkan membaca pertumbuhan ekonomi yang lebih baik dan bagaimana hal itu dapat mempengaruhi waktu kenaikan suku bunga.
The Fed tidak harus menaikkan suku bunga setidaknya sampai tahun depan, Presiden Federal Reserve Bank Minneapolis Narayana Kocherlakota mengatakan pada hari Selasa, ia menambahkan laju inflasi diperkirakan akan tetap di bawah 2 persen target tahunan The Fed dalam beberapa tahun terakhir. (izr)
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Gold Rises for Second Day as Oil Rally Spurs Inflation Concerns

PT. Equityworld Futures - Gold futures rose for the second straight day as higher energy costs added to speculation that U.S. inflation will start to pick up, reviving demand for the precious metal as a store of value.
Crude oil in New York rose above $60 a barrel for the first time since December. In April, the price soared 25 percent, the most since May 2009, on signs the U.S. supply glut is easing. Investors who in December were unloading gold and bracing for deflation are now stepping up bets that inflation is returning. The dollar’s rally has stalled, and American wages are rising.
Holdings in exchange-traded funds backed by gold are rebounding, and speculators are getting more bullish. The metal has gained 4.5 percent from this year’s low in March as investors weigh expectations for higher consumer costs against signs that the Federal Reserve is getting closer to raising interest rates.
Gold futures for June delivery rose 0.5 percent to settle at $1,193.20 an ounce at 1:53 p.m. on the Comex in New York. On Monday, the price climbed 1 percent, the most in a week.
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Gold Sags as Yellen Cites Prospect for Sharp Jump in Bond Yields

PT. Equityworld Futures - Gold fell for first time this week as Federal Reserve Chair Janet Yellen said bond yields “could see a sharp jump” after the central bank raises interest rates, crimping demand for the metal as an alternate investment.
Gold declined in the past two months as speculation mounted that the Fed’s benchmark rate would increase. Treasury yields have been held down by the three rounds of large-scale asset purchases that have swelled the central bank’s balance sheet by $4.47 trillion.
Higher borrowing costs cut gold’s allure because the metal generally offers returns only through prices gains, sending investors to assets with better yield prospects such as bonds. Traders are parsing economic data to assess the outlook for the timing of a rate increase. The government on May 8 releases statistics on jobs.
Gold futures for June delivery fell 0.2 percent to settle at $1,190.30 an ounce at 1:46 p.m. on the Comex in New York. Aggregate trading was 24 percent below the 100-day average, data compiled by Bloomberg show. The price rose 1.6 percent in the past two days.
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