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Dollar dips on trade optimism, U.S.-China talks awaited

The dollar sagged on Monday as investor demand for the safe-haven currency receded on optimism over a reduction in U.S.-China trade tensions, with the focus on discussions between the two countries due this week. The dollar index against a basket of six major currencies was little changed at 96.126 after losing 0.55 percent on Friday. Escalating trade tensions between the United States and its trading partners, in addition to a plunge in the Turkish lira, has taken a heavy toll on emerging...

Tokyo stocks open flat

Tokyo stocks opened flat on Monday as investors looked for a fresh buying peg after rises last week on increased hopes of a resolution to the US-China trade impasse. The benchmark Nikkei 225 index gained 0.04 percent, or 8.16 points, to 22,278.54 in early trade while the broader Topix index was down 0.13 percent, or 2.24 points, at 1,695.29. Source: AFP

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Oil held gains near $66 a barrel on signs of slowing growth in U.S. crude production. Futures in New York were steady after a 0.7 percent rise on Friday. Working oil rigs in the U.S. were unchanged at 869, according to data from Baker Hughes on Friday. While it™s the highest level in more than three years, the rig count has grown only by 10 since late May. Oil has fallen about 11 percent from the highs of late June as a trade war between the U.S. and China and turmoil in...

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Investors Don't Fear 3% Bond Yields
Tuesday, 13 February 2018 05:10 WIB | GOLD CORNER |Gold OutlookGold Corner

The gold market does not have to fear rising bond yields, as inflation expectations are keeping real interest rates muted, according to one investment firm.

In a report, Monday, Maxwell Gold, director of investment strategy at ETF Securities said that gold prices still have room to push higher even as the yield on 10-year notes rises to 3%. The comments come as 10-year bond yields have increased to 2.86%, their highest level in 4-years.

Despite rising yields, the gold market is starting the week on a positive note, as the price bounces further off last week™s five-week low. April gold futures last traded at $1,327 an ounce, up 0.86% on the day.

Traditionally, higher bond yields are negative for gold because they raise the yellow metal™s opportunity costs.

œThe true driver for gold is real interest rates, which is why even though current US yields approach 3%, gold investors should not panic, said Gold. œInflationary pressures and inflation expectations continue to rise commensurately keeping real interest rates low and range bound.

Not only are investors turning to gold as a hedge against inflation, but Gold said that the yellow metal™s safe-haven appeal should also not be ignored.

œAdditionally should rising yields spark further volatility in equity markets, gold may benefit as investors flock to defensive assets and risk hedges such as the yellow metal given its historically negative relationship with persistent equity market drawdowns, he said.

Along with low real interest rates, ETF Securities noted that a weaker U.S. dollar has helped drive gold prices in the first month of the year. The firm noted that gold prices rose 3.32% in January while the U.S. dollar fell 3.25% last month.

However, a resurgence in the U.S. dollar has helped cap gold™s recent gains as tested support above the critical psychological level at $1,300 an ounce.

Source: Kitco News

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POPULAR NEWS
Dollar dips on trade optimism, U.S.-China talks awaited

The dollar sagged on Monday as investor demand for the safe-haven currency receded on optimism over a reduction in U.S.-China trade tensions, with the focus on discussions between the two countries due this week. The dollar index against a basket of six major currencies was little changed at 96.126 after losing 0.55 percent on Friday. Escalating trade tensions between the United States and its trading partners, in addition to a plunge in the Turkish lira, has taken a heavy toll on emerging...

Tokyo stocks open flat

Tokyo stocks opened flat on Monday as investors looked for a fresh buying peg after rises last week on increased hopes of a resolution to the US-China trade impasse. The benchmark Nikkei 225 index gained 0.04 percent, or 8.16 points, to 22,278.54 in early trade while the broader Topix index was down 0.13 percent, or 2.24 points, at 1,695.29. Source: AFP

Oil Holds Gains on Signs of Slowing Growth in U.S. Production

Oil held gains near $66 a barrel on signs of slowing growth in U.S. crude production. Futures in New York were steady after a 0.7 percent rise on Friday. Working oil rigs in the U.S. were unchanged at 869, according to data from Baker Hughes on Friday. While it™s the highest level in more than three years, the rig count has grown only by 10 since late May. Oil has fallen about 11 percent from the highs of late June as a trade war between the U.S. and China and turmoil in...

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