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POPULAR NEWS
Gold futures log highest finish since September 2011

Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session. Prices had seen a "routine downside correction following recent gains" in early Tuesday action, that was "once again seen as a value-buying opportunity in the yellow metal, on strong notions more price appreciation lies ahead," said Jim Wyckoff, senior analyst at Kitco.com, in a market update. August gold rose $16.40, or 0.9%, to settle at $1,809.90 an ounce. That...

Gold futures up a fourth straight session to mark another finish at the highest since 2011

Gold futures climbed for a fourth straight session on Wednesday to mark another finish at their highest since September 2011. The move for gold above $1,800 is not surprising given "so many positive price drivers in its favor, with the key player being negative real rates," said Peter Spina, president and chief executive officer at GoldSeek.com. He does not expect to see a meaningful pullback in gold until it breaks past $2,000. On Wednesday, August gold rose $10.70, or 0.6%, to settle at...

Oil moves lower as Covid-19 cases spark demand fears

Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude futures declined by 24 cents, or 0.56%, to $42.86. West Texas Intermediate crude futures fell 1 cent, or 0.02%, to settle at $40.62 per barrel. œOil prices are lower today on concerns that the surge in coronavirus cases in the U.S. will limit a recovery in fuel demand, RBC said. Sixteen U.S. states have reported record...

Wall Street ends lower after strong recent rally as COVID cases mount

U.S. stocks eased on Tuesday as investors took profits a day after the S&P 500 logged its longest streak of gains this year and as new U.S. coronavirus cases rose further. Large parts of the United States reported tens of thousands of new coronavirus infections. New York expanded its travel quarantine for visitors from three more states, while Florida™s greater Miami area rolled back its reopening. Unofficially, the Dow Jones Industrial Average fell 396.5 points, or 1.51%, to...

Gold Prices Extend Climb to 9-Year High as Traders See Few Limits to Central-Bank Stimulus

Gold futures climbed on Wednesday, building on their highest settlement since September 2011 a day earlier and supported by the prospect of a lengthy period of government and central bank stimulus to support economies harmed by the COVID-19 pandemic. On Tuesday, the Federal Reserve's No. 2, Richard Clarida, did little to disabuse investors of the view that the Fed would do whatever it takes to limit the damage from the viral outbreak. Precious metals have benefited from loose monetary policy...

Fed Sees Rates Near Zero Through 2022, Says Asset Purchases Will Continue
Thursday, 11 June 2020 01:24 WIB | FISCAL & MONETARY |Federal ReserveFOMCThe Fed

The Federal Reserve on Wednesday said it doesn't expect to lift short-term rates through the end of 2022. The central bank also said it will keep buying Treasurys and mortgage-backed securities, at least at the current pace.

There had been some concerns among some economists and financial markets that these purchases, which the Fed says are supporting market functioning, might end as they have been tapered in recent weeks. The central bank has purchased over $2 trillion of Treasurys and MBS since mid-March. The Fed will buy $20 billion in Treasurys this week and up to $22.5 billion in mortgage bonds to stimulate the economy.

In a statement, the Fed said again it would use its "full range of tools to support the economy.

Only two of the 17 Fed officials thought that short-term rates would inch up in 2022.

The Fed cut its benchmark interest rate to a range of 0-0.25% in mid-March as the economy went into lockdown to keep the COVID-19 coronavirus from spreading.

In the policy statement, the central bank once again pledged to keep interest rates near zero until the economy "is on track for a full recovery.

There were no dissents to that stance.

The economy has shown some tentative signs of recovery but the Fed kept a cautious tone.

The May job report showed 2.5 million jobs were created last month after April™s sharp losses and the unemployment rate fell to 13.3%.

In the statement, the Fed noted that financial conditions had improved, in part because of the Fed's actions. The Fed also repeated that the cornavirus pandemic poses œa considerable risk to the outlook over the next 18 months or more.

Fed Chairman Jerome Powell will hold a press conference beginning at 2:30 p.m. Eastern. The Fed has put in place a series of programs to aid states, mid-sized companies and highly-indebted companies.

Minutes of the meeting will be released on July 1. Economists expect discussion of whether the Fed would tie rate moves to specific economic conditions like inflation returning to target. The Fed is also discussing setting caps on yields on certain Treasury securities.

After weeks of gains, U.S. equity benchmarks had retreated ahead of the Fed announcement. The Dow Jones Industrial Average was higher after the statement™s release.

The yield on the 10-year Treasury note was down 4 basis points to 0.790.

Source : Marketwatch

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POPULAR NEWS
Gold futures log highest finish since September 2011

Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session. Prices had seen a "routine downside correction following recent gains" in early Tuesday action, that was "once again seen as a value-buying opportunity in the yellow metal, on strong notions more price appreciation lies ahead," said Jim Wyckoff, senior analyst at Kitco.com, in a market update. August gold rose $16.40, or 0.9%, to settle at $1,809.90 an ounce. That...

Gold futures up a fourth straight session to mark another finish at the highest since 2011

Gold futures climbed for a fourth straight session on Wednesday to mark another finish at their highest since September 2011. The move for gold above $1,800 is not surprising given "so many positive price drivers in its favor, with the key player being negative real rates," said Peter Spina, president and chief executive officer at GoldSeek.com. He does not expect to see a meaningful pullback in gold until it breaks past $2,000. On Wednesday, August gold rose $10.70, or 0.6%, to settle at...

Oil moves lower as Covid-19 cases spark demand fears

Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude futures declined by 24 cents, or 0.56%, to $42.86. West Texas Intermediate crude futures fell 1 cent, or 0.02%, to settle at $40.62 per barrel. œOil prices are lower today on concerns that the surge in coronavirus cases in the U.S. will limit a recovery in fuel demand, RBC said. Sixteen U.S. states have reported record...

Wall Street ends lower after strong recent rally as COVID cases mount

U.S. stocks eased on Tuesday as investors took profits a day after the S&P 500 logged its longest streak of gains this year and as new U.S. coronavirus cases rose further. Large parts of the United States reported tens of thousands of new coronavirus infections. New York expanded its travel quarantine for visitors from three more states, while Florida™s greater Miami area rolled back its reopening. Unofficially, the Dow Jones Industrial Average fell 396.5 points, or 1.51%, to...

Gold Prices Extend Climb to 9-Year High as Traders See Few Limits to Central-Bank Stimulus

Gold futures climbed on Wednesday, building on their highest settlement since September 2011 a day earlier and supported by the prospect of a lengthy period of government and central bank stimulus to support economies harmed by the COVID-19 pandemic. On Tuesday, the Federal Reserve's No. 2, Richard Clarida, did little to disabuse investors of the view that the Fed would do whatever it takes to limit the damage from the viral outbreak. Precious metals have benefited from loose monetary policy...

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