Gold Climb for Second Day as Greece Concerns Fuel Haven Demand

PT. Equityworld Futures - Gold gained for a second day as mounting concern that Greece will stumble in its bid to avoid default boosted the metal’s appeal as a haven asset.
Gold futures for August delivery climbed 0.3 percent to settle at $1,177.60 an ounce at 1:44 p.m. on the Comex in New York.
Silver futures for July delivery slipped less than 0.1 percent to $15.957 an ounce on the Comex, declining for a fifth day, the longest streak since May 30, 2014.
Platinum futures for July delivery gained 0.7 percent to $1,108.50 an ounce on the New York Mercantile Exchange. Palladium futures for September delivery slid 0.5 percent to $739.90 an ounce, an eighth straight decline and longest slump since Feb. 4, 2014.
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Gold steadies as dollar rallies after U.S. data

PT. Equityworld Futures - Gold was little changed on Monday, giving up gains as the dollar rallied after the precious metal was initially buoyed by an unexpected stall in U.S. consumer spending and comments on interest rates from a Federal Reserve's official.

Spot gold rose to a session high of $1,204.31 an ounce and was down 0.04 percent at $1,189.30 an ounce by 3:00 p.m. EDT (19:00 GMT). It posted a second consecutive weekly fall last week, hitting a three-week low of $1,180.50 on Thursday.

U.S. gold futures for August delivery settled down $1.10 at $1,188.70 an ounce.

The U.S. dollar advanced against major currencies after stronger-than-expected data on U.S. manufacturing activity and construction spending, while mounting worries of a Greek default contributed to the euro's weakness.
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Gold Trades Below $1,200 as Fed Rates Outlook Strengthens Dollar

PT. Equityworld Futures - Gold held below $1,200 an ounce after the dollar climbed to the highest level in more than six weeks amid speculation that the Federal Reserve will raise interest rates this year. Platinum traded at the lowest since March.

Bullion for immediate delivery was at $1,188.14 an ounce at 12:48 p.m. in Singapore from $1,189.20 on Monday, when it ended 0.1 percent lower after rising to $1,204.42, according to Bloomberg generic pricing. Prices in Shanghai pared gains.

The Institute for Supply Management’s factory index rose to a three-month high of 52.8 in May from 51.5 a month earlier, figures from the Tempe, Arizona-based group showed. Among data due this week are May payrolls on Friday.

The Bloomberg Dollar Spot Index rose as much as 0.7 percent on Monday to the highest since April 15 and retreated 0.2 percent on Tuesday. The gauge versus 10 major currencies added 1 percent last week and 2.6 percent the week before.

Investors sold bullion in exchange-traded products for a fourth day, cutting holdings by 0.2 percent to 1,599.53 metric tons as of Monday, data compiled by Bloomberg show. Assets are the smallest since mid-January.

Gold for August delivery fell 0.1 percent to $1,188 on the Comex. Bullion of 99.99 percent purity rose 0.1 percent to 237 yuan a gram ($1,189.26 an ounce) on the Shanghai Gold Exchange.

Silver for immediate delivery fell 0.3 percent to $16.7122 an ounce. Spot platinum dropped 0.2 percent to $1,101.03 an ounce, the lowest level since March 18. The metal is trading at its cheapest relative to gold since 2013. Palladium dropped 0.3 percent to $771.16 an ounce, the lowest in a week.

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Gold at 3-week low on stronger U.S. data, Greece optimism

PT. Equityworld Futures - Gold fell to a three-week low on Wednesday as data showed the U.S. private sector added more jobs than expected in May and prospects increased of a debt deal for Greece.

U.S. private employers added 201,000 jobs, above the 165,000 in April and economists' estimate of a 200,000 gain.

Spot gold was down 0.7 percent at $1,185.56 an ounce by 2:56 p.m. EDT (1856 GMT) after falling more than 1 percent to the lowest since May 11 at $1,179.43. U.S. gold futures for August delivery settled down $9.50 at $1,184.90.

Gold fell despite the U.S. dollar hitting its lowest against the euro in over two weeks after the European Central Bank kept monetary policy steady. European shares turned lower but U.S. stocks extended gains, a source of pressure for gold prices, after the Federal Reserve's Beige Book showed U.S. economic activity expanded from early April to late May.

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