PT. Equityworld Futures - Gold futures fell to a two-week low as the dollar strengthened amid speculation that the Federal Reserve will raise U.S. interest rates this year.

The greenback climbed to a one-month high against a basket of 10 currencies, cutting demand for gold as an alternative investment. Accelerating inflation and jobs growth mean the “time is near” for a rate increase, Fed Bank of Cleveland President Loretta Mester said Monday.

Gold swung between year-to-date gains and losses more than 10 times in 2015, gyrating as traders tried to gauge when policy makers are likely to raise borrowing costs. Higher rates drive investors to favor assets that pay interest, including new bonds, curbing the appeal of gold, which generally offers returns only through price gains.

Gold futures for August delivery declined 1.4 percent to settle at $1,187.80 an ounce at 1:46 p.m. on the Comex in New York. The metal touched $1,185.60, the lowest for a most-active contract since May 12. Trading on all monthly contracts doubled compared with the 100-day average, according to data compiled by Bloomberg.

The price dropped 1.7 percent last week. Inflation rose more than forecast in April, government figures showed Friday, and Fed Chair Janet Yellen said the same day it would be “appropriate” to raise rates this year if the economy improves.

Sumber : ewfpro.com

Gold Slumps to Two-Week Low as Dollar Gains on Fed Rate Outlook

PT. Equityworld Futures - Gold futures fell to a two-week low as the dollar strengthened amid speculation that the Federal Reserve will raise U.S. interest rates this year.

The greenback climbed to a one-month high against a basket of 10 currencies, cutting demand for gold as an alternative investment. Accelerating inflation and jobs growth mean the “time is near” for a rate increase, Fed Bank of Cleveland President Loretta Mester said Monday.

Gold swung between year-to-date gains and losses more than 10 times in 2015, gyrating as traders tried to gauge when policy makers are likely to raise borrowing costs. Higher rates drive investors to favor assets that pay interest, including new bonds, curbing the appeal of gold, which generally offers returns only through price gains.

Gold futures for August delivery declined 1.4 percent to settle at $1,187.80 an ounce at 1:46 p.m. on the Comex in New York. The metal touched $1,185.60, the lowest for a most-active contract since May 12. Trading on all monthly contracts doubled compared with the 100-day average, according to data compiled by Bloomberg.

The price dropped 1.7 percent last week. Inflation rose more than forecast in April, government figures showed Friday, and Fed Chair Janet Yellen said the same day it would be “appropriate” to raise rates this year if the economy improves.

Sumber : ewfpro.com

Gold Drops Toward $1,200 as Interest Rate Outlook Boosts Dollar

PT. Equityworld Futures - Gold fell, extending the biggest weekly loss since April, as prospects for the first U.S. interest rate rise since 2006 helped to push the dollar to a one-month high. Silver, platinum and palladium declined.

Bullion for immediate delivery lost as much as 0.3 percent to $1,202.95 an ounce and traded at $1,203.45 at 8:54 a.m. in Singapore, Bloomberg generic pricing showed. The metal dropped 1.5 percent last week, the most since the period to April 24.

Federal Reserve Chair Janet Yellen still expects to raise rates this year if the economy meets her forecasts. Inflation is moving toward the Fed’s 2 percent target after a report on Friday showed core consumer prices climbed 0.3 percent in April, the biggest gain in two years. While a pickup in inflation can boost demand for bullion as a hedge, higher borrowing costs cut the allure of the metal, which generally only provides returns through price gains.

The Bloomberg Dollar Spot Index rose as much as 0.2 percent to 1,181.92 on Monday, the highest since April 27. The gauge rallied 2.6 percent last week, the most since September 2011.

Gold for August delivery traded at $1,203.80 an ounce on the Comex in New York from $1,204.90 on Friday. Most-active prices declined 1.7 percent last week. Silver for immediate delivery fell 0.3 percent to $17.0583, dropping for a second day. 

Sumber : ewfpro.com

Gold Steady Near $1,200 as Interest Rate Outlook Boosts Dollar

PT. Equityworld Futures - Gold prices traded little changed slipped as prospects for the first U.S. interest rate increase since 2006 helped to push the dollar to a one-month high. Silver and palladium declined.

Federal Reserve Chair Janet Yellen said she expects to raise rates this year if the economy meets her forecasts. Inflation is moving toward the Fed’s 2 percent target, with a report on Friday showing that core consumer prices climbed 0.3 percent in April, the biggest gain in more than two years. While a pickup in inflation can boost demand for bullion as a hedge, higher borrowing costs cut the allure of the metal, which generally provides returns only through price gains.

Bullion for immediate delivery rose less than 0.1 percent to close at $1,206.60 an ounce at 5 p.m. New York time, Bloomberg generic pricing showed. The metal dropped 1.5 percent last week, the most since the period to April 24.

Gold futures for August delivery gained 0.2 percent to $1,207.60 an ounce on the Comex in New York. Aggregate trading was 70 percent below the 100-day average for this time, according to data compiled by Bloomberg.

The Bloomberg Dollar Spot Index, a gauge of the greenback’s strength against 10 major counterparts, rose as much as 0.2 percent to the highest since April 27. The measure advanced 2.6 percent last week, the most since September 2011.

Silver for immediate delivery climbed 0.4 percent to $17.1775 an ounce. Platinum added 0.5 percent to $1,151.75 an ounce, while spot palladium fell 0.2 percent to $788.70 an ounce.

Sumber : ewfpro.com