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POPULAR NEWS
Gold Prices Pare Losses, But Still End at a 1-Year Low

Gold futures gave up much of their declines Thursday, but still finished at their lowest in about a year. President Donald Trump voiced his disagreement with the Federal Reserve's plan for gradual increases in interest rates, prompting a decline in the benchmark dollar index which, in turn, helped to lift gold off the lows of the session. August gold settled at $1,224 an ounce, down $3.90, or 0.3%, for the session. The settlement marked gold's entry into correction territory - down more than...

Gold settles with a slight gain, avoids correction territory

Gold prices settled slightly higher on Wednesday, ending a three-session streak of declines as a benchmark dollar index eased back toward session lows, allowing the yellow metal to avoid a finish in correction territory. August gold tacked on 60 cents, or less than 0.1%, to settle at $1,227.90 an ounce, giving up earlier declines that saw prices touch a low of $1,220.90. The precious commodity has thus far tumbled 9.9% since its peak on Jan. 15 at $1,362.90 an ounce, placing it near...

Dollar on defensive against yen, euro after Trump comments

The dollar was on the defensive against the yen and euro early Friday after U.S. President Donald Trump expressed concern about the currency's strength and the Federal Reserve's interest rate increases. Trump said in an interview with CNBC on Thursday that a strong dollar puts the United States at a disadvantage, adding that the Chinese yuan œwas dropping like a rock. A strong currency tends to make a country™s exports more expensive. Trump also showed displeasure about the Fed™s...

Gold Heads for Weekly Decline as Rate Outlook in Focus

Gold drops to trade near lowest in a year as investors weigh Federal Reserve Chairman Jerome Powell's comments on interest rate outlook, as well as President Donald Trump's intervention that he's 'not thrilled' at Fed's tightening trajectory. Bullion for immediate delivery slipped 0.5% at $1,216.78/oz at 9:47am in Singapore, after hitting $1,211.63 on Thursday, lowest since July 2017: Bloomberg generic pricing. That metal lost 2.2% this week to head for fifth weekly...

Gold tumbles, poised for lowest close in more than year as dollar, rates rise

Gold prices early Thursday extended a downdraft that has pushed the metal toward its lowest close in more than a year, in an atmosphere of rising benchmark rates for U.S. government debt and the continuation of a U.S. dollar rally. August gold traded $12, or 1%, lower at $1,215.90 an ounce early Thursday. Other metals also showed signs of faltering, September silver tumbled by 32 cents, or 2.1%, to $15.260 an ounce, on track for its lowest close since early 2016. Source: Marketwatch

SNB Bides Time on Rates as Weaker Franc Helps Inflation Outlook
Thursday, 14 December 2017 15:59 WIB | FISCAL & MONETARY |SwissBank Sentral Swiss,

The Swiss National Bank kept interest rates at a record low, remaining in wait-and-see mode as it monitors the impact of a weaker franc on inflation.

While the franc's 8 percent drop against the euro this year is boosting economic momentum and once-anemic price growth, SNB President Thomas Jordan is wary of any steps that might entice investors to pile back into the currency and fuel a rally.

Keeping its deposit rate at a rock-bottom minus 0.75 percent and reiterating a pledge to wage currency market interventions if needed, the SNB said Thursday that the franc remained œhighly valued. Jordan and his colleagues Fritz Zurbruegg and Andrea Maechler are set to elaborate on that at 10 a.m. in Bern.

œThe depreciation of the Swiss franc reflects the fact that safe havens are currently less sought after, the SNB said. œHowever, this development is still fragile.

The announcement comes amid a bevy of central bank decisions -- kicked off by the Federal Reserve™s interest rate hike on Wednesday and which continue with the Bank of England and the European Central Bank later on Thursday. Rate setters are faced with a quickening of global growth that may finally increase price pressures and allow them to move off the ultra-loose policies in place for the past years.

The SNB has already responded to the franc™s decline, tweaking its language in September to say the move had helped curb its œsignificant overvaluation, a sentiment reiterated on Thursday.

The currency is currently about 1.16 per euro, down from 1.07 a year ago.

Still, the central bank, which used a 1.20 minimum exchange rate between 2011 and 2015 to fend off haven inflows amid the euro-area debt crisis, effectively has its hands tied on policy until the ECB raises rates. It scrapped the upper limit on the franc in early 2015.

Mario Draghi™s institution is expected to only begin lifting euro-area borrowing costs in 2019, according to a Bloomberg survey of economists published this week. The SNB isn™t forecast to make any changes before then.

The Swiss central bank also updated its economic forecasts on Thursday and now sees inflation at 0.7 percent in 2018 and 1.1 percent in 2019, versus its September prediction of 0.4 percent and 1.1 percent respectively. It expects price pressures to accelerate to 2.1 percent in the third quarter of 2020.

The SNB also issued a first take on growth next year, predicting an expansion of around 2 percent after 1 percent in 2017.

Source: Bloomberg

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POPULAR NEWS
Gold Prices Pare Losses, But Still End at a 1-Year Low

Gold futures gave up much of their declines Thursday, but still finished at their lowest in about a year. President Donald Trump voiced his disagreement with the Federal Reserve's plan for gradual increases in interest rates, prompting a decline in the benchmark dollar index which, in turn, helped to lift gold off the lows of the session. August gold settled at $1,224 an ounce, down $3.90, or 0.3%, for the session. The settlement marked gold's entry into correction territory - down more than...

Gold settles with a slight gain, avoids correction territory

Gold prices settled slightly higher on Wednesday, ending a three-session streak of declines as a benchmark dollar index eased back toward session lows, allowing the yellow metal to avoid a finish in correction territory. August gold tacked on 60 cents, or less than 0.1%, to settle at $1,227.90 an ounce, giving up earlier declines that saw prices touch a low of $1,220.90. The precious commodity has thus far tumbled 9.9% since its peak on Jan. 15 at $1,362.90 an ounce, placing it near...

Dollar on defensive against yen, euro after Trump comments

The dollar was on the defensive against the yen and euro early Friday after U.S. President Donald Trump expressed concern about the currency's strength and the Federal Reserve's interest rate increases. Trump said in an interview with CNBC on Thursday that a strong dollar puts the United States at a disadvantage, adding that the Chinese yuan œwas dropping like a rock. A strong currency tends to make a country™s exports more expensive. Trump also showed displeasure about the Fed™s...

Gold Heads for Weekly Decline as Rate Outlook in Focus

Gold drops to trade near lowest in a year as investors weigh Federal Reserve Chairman Jerome Powell's comments on interest rate outlook, as well as President Donald Trump's intervention that he's 'not thrilled' at Fed's tightening trajectory. Bullion for immediate delivery slipped 0.5% at $1,216.78/oz at 9:47am in Singapore, after hitting $1,211.63 on Thursday, lowest since July 2017: Bloomberg generic pricing. That metal lost 2.2% this week to head for fifth weekly...

Gold tumbles, poised for lowest close in more than year as dollar, rates rise

Gold prices early Thursday extended a downdraft that has pushed the metal toward its lowest close in more than a year, in an atmosphere of rising benchmark rates for U.S. government debt and the continuation of a U.S. dollar rally. August gold traded $12, or 1%, lower at $1,215.90 an ounce early Thursday. Other metals also showed signs of faltering, September silver tumbled by 32 cents, or 2.1%, to $15.260 an ounce, on track for its lowest close since early 2016. Source: Marketwatch

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