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POPULAR NEWS
Gold futures marks highest settlement since March 2013

Gold futures rallied on Tuesday to log their highest finish since late March 2013, with analysts attributing the rise to expectations for central bank stimulus as the spread of COVID-19 raised concerns about the global economy. April gold rose $17.20, or 1.1%, to settle at $1,603.60 an ounce. That was the highest most-active contract settlement since March 27, 2013, FactSet data show. Source : MarketWatch

Gold Edges Lower as Chinese Stimulus Hope Supports Risk Appetite

Gold prices were fractionally lower on Monday, largely unmoved by either virus-related concerns or by worse-than-expected growth numbers from Japan. In quiet trading subdued by the U.S. Presidents Day holiday, gold futures were down 0.1% from Friday™s close at $1,584.45 a troy ounce by 8:04 AM ET (13:04 GMT). Spot gold was down 0.2% at $1,581.76 an ounce. Silver futures were up 0.2% at $17.78, while platinum futures were up 0.2% at $970.65. Copper futures, which tend to reflect...

Gold Scales Two-Week High as Coronavirus Hits Business

Gold climbed to a two-week high on Tuesday as investors sought safe havens after a revenue warning from iPhone maker Apple due to coronavirus, exacerbating fears of the outbreak's impact on global economic growth. Spot gold was up 0.4% at $1,587.06 per ounce, having earlier risen to its highest since Feb. 3 at $1,589.40. U.S. gold futures inched up 0.3% to $1,590.20. Gold is considered a hedge against risks from political and economic turmoil. Apple's warning that its sales would fall short...

Gold Eases From Near 2-Week High on China Central Bank Stimulus

Gold prices on Monday eased from a near two-week high, as a monetary policy intervention by China's central bank to limit the economic impact from the coronavirus outbreak reassured investors and boosted demand for higher-risk assets. Spot gold fell 0.3% to $1,580.27 per ounce, as of 10:51 GMT. U.S. gold futures shed 0.2% at $1,583.30. Gold earlier in the session was hovering near Friday's near two-week high of $1,584.65, but pared gains as global shares rose after China cut the interest...

Gold Rises on Mounting Business Impact From Virus Outbreak

Gold rose to a two-week high on Tuesday, spurred by demand for safe-havens after iPhone maker Apple Inc™s revenue warning underscored the financial fallout of the coronavirus epidemic in China. Spot gold was up 0.4% at $1,586.32 per ounce as of 0246 GMT. Earlier in the session, prices touched their highest since Feb. 3 at $1,586.90. U.S. gold futures inched up by 0.2% to $1,589.30. Apple is one of the largest Western firms to be hurt by the epidemic. It said manufacturing facilities in...

The RBA minutes: Board prepared to ease policy further if needed to support growth, jobs
Tuesday, 15 October 2019 08:06 WIB | FISCAL & MONETARY |RBA

The Reserve Bank of Australia came with the Minutes for the RBA Board's 1 October meeting.

Members commenced their discussion of global economic conditions by noting that heightened policy uncertainty was affecting international trade and business investment. This had continued to be apparent in a range of indicators, including new export orders and investment intentions. Conditions in the manufacturing sector had remained subdued, partly because of ongoing US“China trade tensions. These tensions had led to a contraction in bilateral trade between the United States and China, which was resulting in the diversion of some activity to other economies. Members noted that the trade and technology disputes continued to pose significant downside risks to the global economic outlook.

The RBA is prepared to ease further if needed to support growth and jobs. AUD/USD is a touch lower (-0.15%) on the main take away points as follows:

Board judged case for easing at Oct meeting outweighed arguments against a move. Board prepared to ease policy further if needed to support growth, jobs. Reasonable to expect extended period of low rates would be required. Board members noted trend to lower rates globally.

Discussed possibility rate cuts might have less impact than in past. Judged lower rates would still have an impact through the A$. Members noted export demand had been supported by lower level of the A$. Discussed risk that low rates would over-inflate home, asset prices. Saw limited risks of excessive borrowing for now, but warranted monitoring.

Board discussed case for keeping rate cuts in reserve for emergencies. Decided lower level of rates best way to lessen impact of any negative shocks. Mining, housing sectors seemed to have reached "turning points". No sign as yet that household consumption responding to rate cuts, tax rebates. Strong jobs growth being met by equally strong increase in labour supply. Leading indicators point to slowdown in jobs growth in quarters ahead. China-US trade, tech disputes a significant downside risk to global outlook

The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.

Source : FXstreet

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POPULAR NEWS
Gold futures marks highest settlement since March 2013

Gold futures rallied on Tuesday to log their highest finish since late March 2013, with analysts attributing the rise to expectations for central bank stimulus as the spread of COVID-19 raised concerns about the global economy. April gold rose $17.20, or 1.1%, to settle at $1,603.60 an ounce. That was the highest most-active contract settlement since March 27, 2013, FactSet data show. Source : MarketWatch

Gold Edges Lower as Chinese Stimulus Hope Supports Risk Appetite

Gold prices were fractionally lower on Monday, largely unmoved by either virus-related concerns or by worse-than-expected growth numbers from Japan. In quiet trading subdued by the U.S. Presidents Day holiday, gold futures were down 0.1% from Friday™s close at $1,584.45 a troy ounce by 8:04 AM ET (13:04 GMT). Spot gold was down 0.2% at $1,581.76 an ounce. Silver futures were up 0.2% at $17.78, while platinum futures were up 0.2% at $970.65. Copper futures, which tend to reflect...

Gold Scales Two-Week High as Coronavirus Hits Business

Gold climbed to a two-week high on Tuesday as investors sought safe havens after a revenue warning from iPhone maker Apple due to coronavirus, exacerbating fears of the outbreak's impact on global economic growth. Spot gold was up 0.4% at $1,587.06 per ounce, having earlier risen to its highest since Feb. 3 at $1,589.40. U.S. gold futures inched up 0.3% to $1,590.20. Gold is considered a hedge against risks from political and economic turmoil. Apple's warning that its sales would fall short...

Gold Eases From Near 2-Week High on China Central Bank Stimulus

Gold prices on Monday eased from a near two-week high, as a monetary policy intervention by China's central bank to limit the economic impact from the coronavirus outbreak reassured investors and boosted demand for higher-risk assets. Spot gold fell 0.3% to $1,580.27 per ounce, as of 10:51 GMT. U.S. gold futures shed 0.2% at $1,583.30. Gold earlier in the session was hovering near Friday's near two-week high of $1,584.65, but pared gains as global shares rose after China cut the interest...

Gold Rises on Mounting Business Impact From Virus Outbreak

Gold rose to a two-week high on Tuesday, spurred by demand for safe-havens after iPhone maker Apple Inc™s revenue warning underscored the financial fallout of the coronavirus epidemic in China. Spot gold was up 0.4% at $1,586.32 per ounce as of 0246 GMT. Earlier in the session, prices touched their highest since Feb. 3 at $1,586.90. U.S. gold futures inched up by 0.2% to $1,589.30. Apple is one of the largest Western firms to be hurt by the epidemic. It said manufacturing facilities in...

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