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POPULAR NEWS
Gold futures mark highest settlement in 7 years

Gold futures climbed on Thursday for a sixth consecutive session to log their highest settlement since February 2013. "Coronavirus fears magnetized investors towards safe-haven assets," said Lukman Otunuga, senior research analyst at FXTM. "With the virus outbreak fostering uncertainty, unease and anxiety across the board, gold is set to shine through the chaos." April gold rose $8.70, or 0.5%, to settle at $1,620.50 an ounce. Source: Marketwatch

Gold Rises, Set For Best Week in Over a Month as Virus Rapidly Spreads

Gold prices hit their highest in seven years on Friday and were set to post their best week in one-and-a-half months, as demand for the safe-heaven asset was boosted by a surge in new coronavirus cases in South Korea. South Korea reported 52 new cases of the virus, taking the national total to 156, while Japan reported the first fatalities from aboard a cruise ship that accounts for the biggest cluster of infections outside China. Spot gold rose 0.4% to $1,625.05 per ounce by 0409 GMT, after...

Oil posts 6th positive session in 7 on smaller-than-expected inventory build

Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China. Data from the U.S. Energy Information Administration (EIA) showed that crude inventories rose only 414,000 barrels last week, compared with expectations of a 2.5 million barrel rise from analysts in a Reuters poll. Brent crude rose 47 cents, or 0.8%, to $59.59 per barrel. The front-month U.S. West...

Gold Hits New 7-Year High as Virus Prompts More Upgrades

Gold prices surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China. The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data). By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker...

Gold Steady Near 7-Year Peak as Persistent Virus Fears Dampen China Stimulus

Gold prices held steady at a near seven-year high on Friday as nervous investors opted for safe haven assets amid fears about the economic damage from China™s coronavirus epidemic that eclipsed Beijing™s stimulus efforts. Spot gold was little changed at $1,619.33 per ounce by 0108 GMT. In the previous session, bullion prices had hit a seven-year high at $1,623.45. U.S. gold futures were up 0.1% to $1,622.60. Daegu, a city of 2.5 million people in South Korea, has become the latest...

U.S. Economic Growth Slows Less Than Expected in Fourth Quarter
Thursday, 28 February 2019 20:59 WIB | ECONOMY |PDB ASGDP AS

The U.S. economy slowed less than expected in the fourth quarter amid solid consumer and business spending, leaving 2018 growth just shy of the Trump administration's 3 percent annual target.

The Commerce Department's gross domestic product (GDP) report on Thursday offered the latest assessment of the impact of President Donald Trump's economic policies, including deregulation, tax cuts, increased government spending and tariffs aimed at securing more favorable trade deals.

Trump has touted the economy as one of the biggest achievements of his presidency and declared last July that his administration had œaccomplished an economic turnaround of historic proportions.

Gross domestic product increased at a 2.6 percent annualized rate in the fourth quarter after expanding at a 3.4 percent pace in the July-September period. The economy grew 2.9 percent in 2018, the best performance since 2015 and better than the 2.2 percent logged in 2017.

Economists polled by Reuters had forecast GDP rising at a 2.3 percent rate in the fourth quarter. The release of the fourth-quarter GDP report was delayed by a 35-day partial shutdown of the government that ended on Jan. 25, which affected the collection and processing of economic data.

The Commerce Department said while it could not quantify the full effects of the shutdown, it estimated the partial closure had subtracted about one-tenth of a percentage point from fourth-quarter GDP growth through œa reduction in the labor services supplied by federal employees and reduction in intermediate purchases of goods and services by nondefense agencies.

It also said the fourth-quarter GDP growth estimate was œbased on source data that are incomplete or subject to further revision by the source agency.

There are signs the economy slowed further early in the first quarter, with most manufacturing measures weakening in January and February.

The economy is cooling as the boost from the White House™s $1.5 trillion tax cut and increased government spending fades. Growth is also being restrained by a trade war between the United States and China, which economists say is making businesses and households more cautious about spending.

The slowdown comes at time when the economy™s outlook is also being clouded by signs of cooling global demand and uncertainty over Britain™s departure from the European Union.

These factors support the Federal Reserve™s œpatient stance towards raising interest rates further this year. Fed Chairman Jerome Powell reaffirmed the U.S. central bank™s position in his testimonies before lawmakers on Tuesday and Wednesday.

Source : Reuters

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POPULAR NEWS
Gold futures mark highest settlement in 7 years

Gold futures climbed on Thursday for a sixth consecutive session to log their highest settlement since February 2013. "Coronavirus fears magnetized investors towards safe-haven assets," said Lukman Otunuga, senior research analyst at FXTM. "With the virus outbreak fostering uncertainty, unease and anxiety across the board, gold is set to shine through the chaos." April gold rose $8.70, or 0.5%, to settle at $1,620.50 an ounce. Source: Marketwatch

Gold Rises, Set For Best Week in Over a Month as Virus Rapidly Spreads

Gold prices hit their highest in seven years on Friday and were set to post their best week in one-and-a-half months, as demand for the safe-heaven asset was boosted by a surge in new coronavirus cases in South Korea. South Korea reported 52 new cases of the virus, taking the national total to 156, while Japan reported the first fatalities from aboard a cruise ship that accounts for the biggest cluster of infections outside China. Spot gold rose 0.4% to $1,625.05 per ounce by 0409 GMT, after...

Oil posts 6th positive session in 7 on smaller-than-expected inventory build

Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China. Data from the U.S. Energy Information Administration (EIA) showed that crude inventories rose only 414,000 barrels last week, compared with expectations of a 2.5 million barrel rise from analysts in a Reuters poll. Brent crude rose 47 cents, or 0.8%, to $59.59 per barrel. The front-month U.S. West...

Gold Hits New 7-Year High as Virus Prompts More Upgrades

Gold prices surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China. The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data). By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker...

Gold Steady Near 7-Year Peak as Persistent Virus Fears Dampen China Stimulus

Gold prices held steady at a near seven-year high on Friday as nervous investors opted for safe haven assets amid fears about the economic damage from China™s coronavirus epidemic that eclipsed Beijing™s stimulus efforts. Spot gold was little changed at $1,619.33 per ounce by 0108 GMT. In the previous session, bullion prices had hit a seven-year high at $1,623.45. U.S. gold futures were up 0.1% to $1,622.60. Daegu, a city of 2.5 million people in South Korea, has become the latest...

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