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POPULAR NEWS
Gold futures down a third straight session

Gold futures marked a third straight session decline on Wednesday, posting their lowest settlement in more than three weeks. Strength in the U.S. stock market, as well as smaller-than-expected private-sector job losses in May pressured prices for the haven metal. August gold fell by $29.20, or 1.7%, to settle at $1,704.80 an ounce. That was the lowest finish for a most-active contract since May 11, according to FactSet data. Source: Marketwatch

Gold marks first gain in 4 sessions on weakness in U.S. dollar and stocks

Gold futures rose on Thursday, with prices posting their first gain in four sessions on the back of weakness in the U.S. stock market and the dollar, as investors digested policy actions by the European Central Bank. Gold for August delivery on Comex tacked on $22.60, or 1.3%, to settle at $1,727.40 an ounce, after trading as high as $1,729. Prices for the most-active contract tumbled 1.7% on Wednesday amid a strong rally in global equities. That decline marked a third straight loss for the...

Gold Under Pressure as Investors Snap Up Stocks, Dulling Demand for Havens

Gold lost ground Wednesday, unable to find traction higher as demand for equities dulls haven-related demand for the precious metal. Gold for August delivery on Comex was down $3.90, or 0.2%, at $1,730.20 an ounce. July silver was up 2 cents, or 0.1%, at $18.280 an ounce. Stock-index futures pointed to a higher start for U.S. equities, which have pushed back to early March levels on optimism over efforts to reopen the economy. Gold has failed to find much in the way of traditional haven...

Gold Eases as Equity Rally Boosts Risk Appetite

Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment. Spot gold was down 0.2% at $1,722.93 per ounce, as of 1252 GMT. U.S. gold futures fell 0.3% to $1,729.70. Asian equities were set to follow the global equity rally from Tuesday, on hopes of more government stimulus. On Tuesday, stocks in the U.S., Europe and emerging markets hit their highest levels since early March. Traders hope that the...

Gold Declines as Investors Assess Recovery, Protests

Gold dropped for a second day as traders assessed the haven™s merits amid a rally in stocks and positive signs from economies reopening, while also focusing on continued civil unrest across the U.S. Businesses are resuming operations worldwide, while manufacturing gauges are painting a more optimistic picture. Activity in China has recovered to 80% to 85% of pre-virus levels, according to Bloomberg Economics. Still, risks to growth remain, including simmering U.S.-China relations...

RBA Offers to Buy $2.9 billion in First Bond Purchase Operation
Friday, 20 March 2020 08:24 WIB | FISCAL & MONETARY |RBA

The Reserve Bank of Australia offered to buy as much as A$5 billion ($2.9 billion) of government bonds on Friday, purchasing debt to lower yields now that its exhausted conventional policy ammunition.

Australian bonds held gains after the announcement, with three-year yields down 5 basis points to 0.3% as of 11:25 a.m. in Sydney, while 10-year yields were down 20 basis points at 1.29%. The Aussie dollar rose as much as 1.1% to 58.04 U.S. cents. The central bank said it will purchase securities maturing in July 2022, April 2023, November 2027 and May 2028.

RBA Governor Philip Lowe on Thursday reduced the benchmark interest rate to 0.25%, long flagged as the effective lower bound, following an emergency meeting in Sydney. He also introduced a target for the three-year government bond yield to be around 0.25%.

Federal and state government notes of varying maturities will be purchased to achieve this target, which will hold down borrowing costs in the economy.

Australia™s policy makers are joining peers in the U.S. Europe, U.K. and elsewhere in dropping interest rates back toward their limit and pursuing quantitative easing to counter the economic impact of the novel coronavirus outbreak.

The epidemic has sent Australia™s economy spiraling toward its first recession since 1991 and its credit markets have been under stress from investors worldwide trying to head for the exits.

The RBA injected A$4.25 billion into the system in Friday™s daily market operations, the smallest amount since March 12, and a massive reduction from Thursday™s record A$12.7 billion. Three-month bank bill rates tumbled 13 basis points to 0.52%, indicating some of the credit stresses may start to ease. The bank-bill rate spread to the similar tenor overnight indexed swap -- a key indicator of funding strains -- shrank to 31 basis points, also the lowest level since March 12.

Source : Bloomberg

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POPULAR NEWS
Gold futures down a third straight session

Gold futures marked a third straight session decline on Wednesday, posting their lowest settlement in more than three weeks. Strength in the U.S. stock market, as well as smaller-than-expected private-sector job losses in May pressured prices for the haven metal. August gold fell by $29.20, or 1.7%, to settle at $1,704.80 an ounce. That was the lowest finish for a most-active contract since May 11, according to FactSet data. Source: Marketwatch

Gold marks first gain in 4 sessions on weakness in U.S. dollar and stocks

Gold futures rose on Thursday, with prices posting their first gain in four sessions on the back of weakness in the U.S. stock market and the dollar, as investors digested policy actions by the European Central Bank. Gold for August delivery on Comex tacked on $22.60, or 1.3%, to settle at $1,727.40 an ounce, after trading as high as $1,729. Prices for the most-active contract tumbled 1.7% on Wednesday amid a strong rally in global equities. That decline marked a third straight loss for the...

Gold Under Pressure as Investors Snap Up Stocks, Dulling Demand for Havens

Gold lost ground Wednesday, unable to find traction higher as demand for equities dulls haven-related demand for the precious metal. Gold for August delivery on Comex was down $3.90, or 0.2%, at $1,730.20 an ounce. July silver was up 2 cents, or 0.1%, at $18.280 an ounce. Stock-index futures pointed to a higher start for U.S. equities, which have pushed back to early March levels on optimism over efforts to reopen the economy. Gold has failed to find much in the way of traditional haven...

Gold Eases as Equity Rally Boosts Risk Appetite

Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment. Spot gold was down 0.2% at $1,722.93 per ounce, as of 1252 GMT. U.S. gold futures fell 0.3% to $1,729.70. Asian equities were set to follow the global equity rally from Tuesday, on hopes of more government stimulus. On Tuesday, stocks in the U.S., Europe and emerging markets hit their highest levels since early March. Traders hope that the...

Gold Declines as Investors Assess Recovery, Protests

Gold dropped for a second day as traders assessed the haven™s merits amid a rally in stocks and positive signs from economies reopening, while also focusing on continued civil unrest across the U.S. Businesses are resuming operations worldwide, while manufacturing gauges are painting a more optimistic picture. Activity in China has recovered to 80% to 85% of pre-virus levels, according to Bloomberg Economics. Still, risks to growth remain, including simmering U.S.-China relations...

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