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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...

Gold Holds Gain Amid Virus Resurgence, Weaker Dollar

Gold held near the highest level in more than seven years on demand for haven assets amid the resurgence in coronavirus cases in some parts of the world, while the U.S. dollar slipped. The pace of new infections in Tokyo, Iran and elsewhere is raising concerns about a fresh wave. Australia™s two most-populous states will close their shared border from Tuesday night as authorities battle to contain a spike in cases. Any vaccine developed to ward off the novel...

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...

Draghi Talks Tough on Stimulus as ECB Discusses More Rate Cuts
Thursday, 6 June 2019 21:26 WIB | MONETARY | ECBMario Draghi

Mario Draghi hardened his language as he said the European Central Bank won™t shy away from action to support the euro-area economy as growth weakens.

Policy makers are œdetermined to act if needed, citing the œprolonged persistence of uncertainties and the œrising threat of protectionism, the ECB president said in Vilnius after the Governing Council met. Some officials raised the prospect of interest-rate cuts or restarting quantitative easing and there is œconsiderable headroom for more QE, he added.

council extended its pledge to keep interest rates at record lows and announced details on a program for infusing lenders with more cheap cash. That wasn™t enough for some investors in a week when global central banks including the Federal Reserve turned more dovish. German bond yields and the euro rose. Still, bank stocks gained on the details of the long-term loans.

Trade tensions buffeting the global economy have spurred monetary policy makers to move toward easing. Australia reduced rates on Tuesday for the first time in three years and India cut for a third time this year on Thursday, while Fed Chairman Jerome Powell shifted closer to acting.

Draghi said ECB economists downgraded their outlook for growth and inflation next year. The euro-zone economy is now seen expanding 1.4% in 2020 compared with a March forecast for 1.6%. Inflation is seen at 1.3% this year, 1.4% next year and 1.6% in 2021 -- well below target.

The long-term loans to banks will start in September and initially be priced at the main refinancing rate plus 0.1 percentage point. They can fall as low as the deposit rate plus 0.1 percentage point if banks meet lending benchmarks. The main refinancing rate is currently zero, and the deposit rate is minus 0.4%.

Market-based inflation expectations are at their lowest since 2016, a trend that Draghi said policy makers take seriously, while stressing that there is no threat of deflation and a very low probability of recession.

The ECB™s action on Thursday œtakes into account the prolongation of uncertainty with respect to what we saw and believed in March, Draghi told reporters, citing Brexit and rising populism as well as trade.

Markets œmight see a much broader phenomena, where the multilateral order that we have lived in since World War II is disappearing, he said. œAnd then of course the uncertainty about Brexit negotiations, the uncertainty of vulnerabilities of certain emerging-market countries, which are important.

Source: Bloomberg

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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...

Gold Holds Gain Amid Virus Resurgence, Weaker Dollar

Gold held near the highest level in more than seven years on demand for haven assets amid the resurgence in coronavirus cases in some parts of the world, while the U.S. dollar slipped. The pace of new infections in Tokyo, Iran and elsewhere is raising concerns about a fresh wave. Australia™s two most-populous states will close their shared border from Tuesday night as authorities battle to contain a spike in cases. Any vaccine developed to ward off the novel...

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...

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