Gold Erases 2015’s Advance on Concern U.S. Rates Will Rise Soon

PT. Equityworld Futures - The more the U.S. economy improves, the worse things get for gold bulls.

Bullion erased its 2015 gains and slumped the most in more than a year Friday after a government report showed American employers added more jobs than forecast in February. The unemployment rate dropped to the lowest in almost seven years. Holdings in exchange-traded funds backed by gold headed for the biggest weekly decline since November.

A stronger economy is fueling speculation that the Federal Reserve is getting closer to raising interest rates for the first time since 2006, damping the appeal of the metal, which generally offer returns through price gains. Futures fell 5.2 percent last month amid gains in U.S. equities and easing concern over Greece’s debt.

On the Comex, gold futures for April delivery fell 2.7 percent to settle at $1,164.30 an ounce at 1:41 p.m. in New York, the biggest drop since Dec. 19, 2013. Earlier, the metal slumped to $1,162.90, the lowest since Dec. 1.

Gold dropped 29 percent in the previous two years as the dollar surged and inflation remained low. Prices climbed 70 percent from December 2008 to June 2011 partly as the Fed held interest rates near a record low.

sumber : ewfpro.com

Gold Falls to End Longest Rally in Five Weeks as Equities Climb

PT. Equityworld Futures - Gold futures fell to end the longest rally in five weeks as a 15-year high in U.S. technology stocks cut demand for the precious metal as a haven.
The Nasdaq Composite Index climbed above 5,000 for the first time since 2000 on optimism that consumer spending will advance. Gold dropped 29 percent in the previous two years as the economy gained traction and global equities surged.
On the Comex in New York, gold futures for April delivery dropped 0.4 percent to settle at $1,208.20 an ounce at 1:46 p.m. The price climbed in the previous three sessions, the longest rally since Jan. 20.
Earlier, the metal reached $1,223, the highest for a most-active contract since Feb. 17, after a cut in borrowing costs in China, the world’s second-largest consumer.
The People’s Bank of China lowered the benchmark lending and deposit rates by a quarter percentage point on Saturday. Gold imports by India, the top consumer, may jump to 100 metric tons in March from about 25 tons in February, according to Rajesh Mehta, chairman of Rajesh Exports Ltd.
sumber : ewfpro.com

Chinese Stocks Cap Monthly Gain Before Annual Congress Meeting

PT. Equityworld Futures - Chinese stocks rose, with the benchmark index capping a monthly gain, before the start of the annual National People’s Congress meeting next week. The yuan weakened.
The Shanghai Composite Index added 0.4 percent to 3,310.30 at the close. The gauge rose 3.3 percent during the holiday-shortened month. The measure jumped 2.2 percent yesterday after Premier Li Keqiang called for more active fiscal policy and a central bank publication said extra monetary easing is needed.
China should loosen monetary policy to reduce the impact of the economic slowdown on jobs, according to a commentary in China Securities Journal, while an article in the People’s Bank of China’s newspaper published yesterday said the central bank should cut required reserve ratios for lenders. The country’s export outlook in 2015 is still “grim,” Commerce Minister Gao Hucheng said Thursday.
The CSI 300 Index gained 0.2 percent, while the Hang Seng Index was little changed at 3:13 p.m. local time and the Hang Seng China Enterprises Index dropped 0.2 percent.
sumber : ewfpro.com

Hong Kong Stock Close Down 0.32 %

PT. Equityworld Futures - Hong Kong stocks ended down 0.32 percent on Friday, reversing the previous day's gains, as Shanghai ended higher ahead of a key meeting next week.
The benchmark Hang Seng Index lost 78.77 points to 24,823.29 on turnover of HK$76,55 billion ($9,87 billion).
Chinese shares ended higher as investors awaited the start of the annual meeting of the National People's Congress, the country's legislature, next week, dealers said.
The benchmark Shanghai Composite Index added 0.36 percent, or 11.94 points, to 3,310.30 on turnover of 335.0 billion yuan ($54.5 billion).
The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.95 percent, or 15.34 points, to 1,630.05 on turnover of 277.3 billion yuan.
sumber : ewfpro.com