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POPULAR NEWS
Gold Futures Finish Lower after Brief Climb Above $1,700

Gold futures finished lower on Tuesday, easing back after briefly climbing above $1,700 an ounce for the first time since late 2012. There was a "follow through short-squeeze" in gold prices early Tuesday following Monday's sharp gain, but that morning squeeze gave way to retracement "as gold became overbought on a near-term basis," said Tyler Richey, co-editor at Sevens Report Research. June gold fell by $10.20, or 0.6%, to settle at $1,683.70 an ounce after trading as high as $1,742.60. It...

Gold Prices Settle Slightly Higher, Then See Volatile Trade after Fed Meeting Minutes

Gold prices settled with a modest gain on Wednesday, then saw volatile moves in electronic trading, edging lower, then higher, following the release of minutes from the Federal Reserve's March 3 and March 15 meetings. The meeting minutes showed that Fed officials were concerned that, under a worse-case scenario, an economic recovery wouldn't take hold until next year. June gold was at $1,686.40 an ounce in electronic trading, following a settlement at $1,684.30, up 60 cents, or 0.04%, for...

Gold eases on firmer dollar, coronavirus slowdown signs

Gold prices eased on Wednesday as the U.S. dollar firmed, while signs of a slowdown in the new coronavirus cases in major hot spots hurt the metal's safe-haven appeal and pushed it further away from a near one-month high hit in the previous session. Spot gold slipped 0.2% to $1,644.99 per ounce by 00:49 GMT, having risen to its highest since March 10 on Tuesday. U.S. gold futures eased 0.7% to $1,671.30. The dollar was up 0.2% against key rivals, making gold costlier for investors holding...

Gold ticks higher as coronavirus worries deepen, Fed minutes eyed

Gold edged higher on Wednesday as the rising coronavirus death toll hammered risk sentiment, while investors await the release of the U.S. Federal Reserve™s policy meeting minutes for clues on further stimulus measures. Spot gold ticked up 0.1% to $1,684.7 per ounce, after climbing to its highest since March 10 on Tuesday, at $1,671.40. U.S. gold futures were flat at $1,647.43 per ounce. Elsewhere, palladium climbed 0.7% to $2,191.31 an ounce, while platinum gained 0.6% to $738.15. Silver...

Gold inches up on weak dollar, pandemic peaking hopes cap gains

Gold prices rose slightly on Thursday ahead of a U.S. weekly jobless claims report as the dollar inched lower, while increasing appetite for risk on hopes that the new coronavirus pandemic is nearing a peak limited the metal's upside. Spot gold rose 0.1% to $1,646.81 per ounce by 00:59 GMT, resuming its march toward a near one-month peak scaled on Tuesday. U.S. gold futures eased 0.1% to $1,682.70. The dollar was down 0.1% against key rivals, making gold cheaper for investors holding other...

RBA Slashes Near-Term Growth Outlook as Employment Key to Rates
Friday, 10 May 2019 08:57 WIB | FISCAL & MONETARY |RBABank Sentral Australia,

Australia's central bank slashed its near-term growth outlook and is relying on persistent jobs market strength to cushion a property-driven downturn in household spending.

The economy is expected to expand 1.75% in the year through June versus 2.5% seen three months earlier, and is then forecast to lift to 2.75% for the rest of the forecast period, the Reserve Bank said in Sydney Friday. It made substantial cuts to the outlook for consumption and dwelling investment despite all forecasts being premised on two cuts in the cash rate.

œGrowth in the Australian economy has slowed and inflation remains low, the RBA said in its quarterly Statement on Monetary Policy. œSubdued growth in household income and the adjustment in the housing market are affecting consumer spending and residential construction. Despite this, the labor market is performing reasonably well, with the unemployment rate steady.

The central bank opted against easing policy Tuesday as it waits to see whether the persistent hiring strength of the past two years is maintained. It signaled full employment is likely lower than in the past, saying unemployment can fall further than the current 5% without setting off consumer-price growth.

œAt its recent meeting, the board focused on the implications of the low inflation outcomes for the economic outlook, the RBA said. Core inflation is œexpected to remain low in coming quarters, largely because the weakness in housing- related items is expected to persist for a while.

It did offer some prospect of improvement for the financial position of households.

œDisposable income growth is also expected to be supported by lower net interest payable owing to the lower cash rate assumption, it said. 

The central bank has kept its cash rate at a record-low 1.5% since August 2016 and noted in today's release that money markets are pricing in quarter-point cuts this year and next.

In its statement, the RBA cut its household spending forecast in the 12 months through June to 1.6% from 2.2% in February; it predicted dwelling investment would slump 6% in the period versus a 1.7% drop seen three months ago.

Household spending accounts for 60% of GDP and the bank noted that uncertainty around its outlook is a key risk.

Offshore it highlighted the trade tensions between the U.S. and China, which is also Australia's biggest trading partner.

œThe global growth outlook has been revised slightly lower and the risks remain tilted to the downside, it said. 

œThe outlook for China continues to be an important source of uncertainty for the external environment facing Australia™s economy. The Chinese authorities face significant policy trade- offs and it is unclear how various policy changes will play out, the bank said. œThe outlook for trade policy remains uncertain and negative developments could harm global growth. 

Source : Bloomberg

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POPULAR NEWS
Gold Futures Finish Lower after Brief Climb Above $1,700

Gold futures finished lower on Tuesday, easing back after briefly climbing above $1,700 an ounce for the first time since late 2012. There was a "follow through short-squeeze" in gold prices early Tuesday following Monday's sharp gain, but that morning squeeze gave way to retracement "as gold became overbought on a near-term basis," said Tyler Richey, co-editor at Sevens Report Research. June gold fell by $10.20, or 0.6%, to settle at $1,683.70 an ounce after trading as high as $1,742.60. It...

Gold Prices Settle Slightly Higher, Then See Volatile Trade after Fed Meeting Minutes

Gold prices settled with a modest gain on Wednesday, then saw volatile moves in electronic trading, edging lower, then higher, following the release of minutes from the Federal Reserve's March 3 and March 15 meetings. The meeting minutes showed that Fed officials were concerned that, under a worse-case scenario, an economic recovery wouldn't take hold until next year. June gold was at $1,686.40 an ounce in electronic trading, following a settlement at $1,684.30, up 60 cents, or 0.04%, for...

Gold eases on firmer dollar, coronavirus slowdown signs

Gold prices eased on Wednesday as the U.S. dollar firmed, while signs of a slowdown in the new coronavirus cases in major hot spots hurt the metal's safe-haven appeal and pushed it further away from a near one-month high hit in the previous session. Spot gold slipped 0.2% to $1,644.99 per ounce by 00:49 GMT, having risen to its highest since March 10 on Tuesday. U.S. gold futures eased 0.7% to $1,671.30. The dollar was up 0.2% against key rivals, making gold costlier for investors holding...

Gold ticks higher as coronavirus worries deepen, Fed minutes eyed

Gold edged higher on Wednesday as the rising coronavirus death toll hammered risk sentiment, while investors await the release of the U.S. Federal Reserve™s policy meeting minutes for clues on further stimulus measures. Spot gold ticked up 0.1% to $1,684.7 per ounce, after climbing to its highest since March 10 on Tuesday, at $1,671.40. U.S. gold futures were flat at $1,647.43 per ounce. Elsewhere, palladium climbed 0.7% to $2,191.31 an ounce, while platinum gained 0.6% to $738.15. Silver...

Gold inches up on weak dollar, pandemic peaking hopes cap gains

Gold prices rose slightly on Thursday ahead of a U.S. weekly jobless claims report as the dollar inched lower, while increasing appetite for risk on hopes that the new coronavirus pandemic is nearing a peak limited the metal's upside. Spot gold rose 0.1% to $1,646.81 per ounce by 00:59 GMT, resuming its march toward a near one-month peak scaled on Tuesday. U.S. gold futures eased 0.1% to $1,682.70. The dollar was down 0.1% against key rivals, making gold cheaper for investors holding other...

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