Gold Futures Approach $1,300 to Post Longest Rally in 11 Months

PT. Equityworld Futures - Gold futures approached $1,300 an ounce to post the longest rally in 11 months on speculation that the European Central Bank will boost economic stimulus, increasing demand for the precious metal as a haven.

Assets in the SPDR Gold Trust, the biggest exchange-traded product backed by the metal, last week rose 3.3 percent, the most since May 2010. Futures posted the biggest weekly gain in 18 months after the Swiss central bank unexpectedly abandoned its currency peg against the euro. The International Monetary Fund on Monday made the steepest cut to its global-growth outlook in three years.

The metal on Tuesday climbed to a 20-week high amid speculation that stagnant foreign economies will prompt the Federal Reserve to wait longer before raising interest rates. ECB President Mario Draghi will probably announce a 550 billion-euro ($638 billion) program of quantitative easing this week, economists said in a Bloomberg survey.

Gold futures for February delivery climbed 1.4 percent to settle at $1,294.20 at 1:39 p.m. on the Comex in New York. Earlier, the price touched $1,297.20, the highest for a most-active contract since Aug. 28. The metal advanced for a seventh straight session, the longest rally since Feb. 18.

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European Stocks Rise Third Day Amid Expectations of ECB Stimulus

PT. Equityworld Futures - European stocks advanced for a third day, extending their highest level since 2008, amid investor expectations the European Central Bank will announce a plan for quantitative easing this week.

The Stoxx Europe 600 Index added 0.2 percent to 353.18 at the close of trading. The equity gauge pared gains in the final hour after earlier increasing as much as 0.7 percent. Stocks climbed to a 7-year high on Friday as rising oil producers outweighed a slump in Swiss shares. Switzerland™s SMI Index rebounded 3.2 percent today after posting its worst week since 2008 following the Swiss National Bank™s surprise move to end a cap on the franc.

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Gold Trades Above Platinum as Bullion ETPs Gain on Haven Demand

PT. Equityworld Futures - Gold traded at the biggest premium to platinum since April 2013 as bullion was near a four-month high amid demand for a haven.

An ounce of gold bought as many as 1.012 ounces of platinum in London today, data compiled by Bloomberg show. The ratio had mostly held below 1 since April 2013. Holdings in gold-backed exchange-traded products jumped 26.2 metric tons in the two days through Jan. 16, the biggest advance since 2011.

Bullion climbed 4.7 percent last week, the most since August 2013, after the Swiss National Bank decided to let the currency trade freely against the euro and deepened negative deposit rates. Chinese equities lost the most since 2008 today and the European Central Bank may announce additional stimulus measures at a meeting this week.

Gold for immediate delivery lost 0.3 percent to $1,277.14 an ounce by 11:15 a.m. in London, after reaching $1,283 earlier today, the highest since Sept. 2. Platinum fell 0.3 percent to $1,263.25. U.S. financial markets are closed for Martin Luther King Day.

A slump in commodity prices has raised speculation that the Federal Reserve may hold back from increasing its key rate, which has been kept near zero since 2008, as data has showed inflation held below the central bank™s 2 percent target. ECB policy makers meet Jan. 22, three days before Greek elections that™s spurred concern the country may exit the currency bloc.

Silver for immediate delivery declined 0.5 percent to $17.6978 an ounce, reversing an advance to $18.0075 earlier today, the highest since Sept. 19. Prices climbed 7.8 percent last week, the most since August 2013. Palladium rose 1.1 percent to $765.90 an ounce.

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Emas Bersiap Menuju Penguatan Mingguan Tajam dalam 10 Bulan Terakhir

PT Equityworld Futures - Emas ditransaksikan mendekati level tertingginya dalam empat bulan terakhir, menuju penguatan mingguan terbesar sejak Maret lalu, terkait permintaan aset haven pasca Bank Sentral Swiss secara tidak terduga memangkas nilai tukar mata uangnya. Kepemilikan aset dalam produk yang diperdagangkan di bursa terbesar berbasis emas meningkat tajam sejak 2011 lalu.

Bullion untuk pengiriman segera berada di level $1,260.79 per ons pada pukul 10:24 pagi di Singapura dari level $1,262.75 sehari sebelumnya, harga emas melonjak 2,8 persen menuju kenaikan terbesar tahun ini, menurut harga generik Bloomberg. Logam menguat pada hari Kamis ke level $1,266.85, tertinggi sejak 8 September lalu, seiring Swiss National Bank memangkas nilai tukar mata uang Swiss franc terhadap euro. Emas ditransaksi relatif paling mahal dibandingkat platinum sejak April 2013 lalu.

Emas naik sebesar 3,1 persen pekan ini menuju kenaikan terbesar dalam hampir setahun terakhir pasca langkah bank sentral Swiss mengguncang mata uang dan ekuitas pasar. Bahwa Memicu permintaan bullion seiring para investor kembali meningkatkan permintaan terhadap emas ETPS, menurut para pembuat kebijakan Australia & New Zealand Banking Group Ltd Bank Sentral Eropa akan melakukan pertemuan pada 22 Januari lalu untuk membahas memperkenalkan stimulus baru di tengah kekhawatiran Yunani akan keluar dari blok mata uang euro pasca pemilu 25 Januari mendatang.

Spot emas menguat mengirim indeks relatih kekuatan logan 14 hari berada pada level 70 yang sinyal ke beberapa investor yang harga bisa mundur. Indeks itu berada di 68,69 pada hari Jumat dari 68,52 sehari sebelumnya. (izr)

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