Gold Drops as Fed May Start Taper, ETP Holdings Seen Dropping

Bloomberg (16/12) -- Gold fell amid speculation that Federal Reserve policy makers may decide to start cutting back asset purchases this week, and as a survey showed that holdings in exchange-traded products will contract further next year.

Bullion for immediate delivery lost as much as 0.5 percent to $1,233.10 an ounce and was at $1,234.20 at 2:29 p.m. in Singapore. Gold for February delivery was little changed at $1,233.50 an ounce on the Comex in New York. Gold fell 26 percent this year as some investors lost faith in the metal as a store of value and the Fed signaled it may curb the $85 billion of monthly bond purchases. The Federal Open Market Committee, or FOMC, begins a two-day meeting tomorrow. A total of 311 metric tons will be withdrawn from bullion-backed exchange-traded products next year, according to the median of 11 analyst estimates compiled by Bloomberg. Holdings in the 14 biggest ETPs fell 31 percent to 1,813.7 tons since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show. Assets in the SPDR Gold Trust, the biggest gold-backed ETP, declined 39 percent this year to 827.6 tons, the lowest level since January 2009, according to data on the fund’s website. The Fed will probably start cutting the monthly bond purchases at this week’s meeting, according to 34 percent of economists surveyed on Dec. 6 by Bloomberg. Officials said at their Oct. 29-30 meeting that they may reduce the purchases “in coming months” as the economy improves. Silver for immediate delivery lost as much as 0.8 percent to $19.5444 an ounce, and was at $19.5707. Platinum dropped 0.2 percent to $1,362.33 an ounce, while palladium advanced 0.2 percent to $717.96 an ounce.

Gold Declines as Fed May Start Taper, ETP Holdings Seen DroppingGold Declines as Fed May Start Taper, ETP Holdings Seen Dropping

Bloomberg (16/12) -- Gold fell amid speculation that Federal Reserve policy makers may decide to start cutting back asset purchases this week, and as a survey showed that holdings in exchange-traded products will contract further next year.

Bullion for immediate delivery lost as much as 0.5 percent to $1,233.10 an ounce and was at $1,234.20 at 2:29 p.m. in Singapore. Gold for February delivery was little changed at $1,233.50 an ounce on the Comex in New York. Gold fell 26 percent this year as some investors lost faith in the metal as a store of value and the Fed signaled it may curb the $85 billion of monthly bond purchases. The Federal Open Market Committee, or FOMC, begins a two-day meeting tomorrow. A total of 311 metric tons will be withdrawn from bullion-backed exchange-traded products next year, according to the median of 11 analyst estimates compiled by Bloomberg. Holdings in the 14 biggest ETPs fell 31 percent to 1,813.7 tons since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show. Assets in the SPDR Gold Trust, the biggest gold-backed ETP, declined 39 percent this year to 827.6 tons, the lowest level since January 2009, according to data on the fund’s website. The Fed will probably start cutting the monthly bond purchases at this week’s meeting, according to 34 percent of economists surveyed on Dec. 6 by Bloomberg. Officials said at their Oct. 29-30 meeting that they may reduce the purchases “in coming months” as the economy improves. Silver for immediate delivery lost as much as 0.8 percent to $19.5444 an ounce, and was at $19.5707. Platinum dropped 0.2 percent to $1,362.33 an ounce, while palladium advanced 0.2 percent to $717.96 an ounce.

Dolar Merosot di perdagangan Asia Sebelum Pertemuan The Fed

AFP ( 16/12 ) - Dolar tergelincir di perdagangan Asia pada hari Senin seiring investor menyesuaikan posisi menjelang kunci pertemuan kebijakan Federal Reserve AS pada minggu ini yang bisa melihat bank sentral mengumumkan pemotongan untuk program stimulus tersebut.

Greenback yang telah menyentuh posisi lima tahun tertingginya ¥ 103,93 pada hari Jumat sebelum pelonggaran di kemudian hari, diperdagangkan pada level ¥ 102,81 di Tokyo pada akhir perdagangan pagi, terhadap mata uang yen pada level ¥103,23  di New York, pada hari Jumat. Euro , yang juga mencapai level lima tahun tertingginya terhadap yen dari level ¥ 142,83 pada hari Jumat sebelum jatuh kembali – dan dibeli pada level ¥ 141,44 dibandingkan dengan level ¥ 141,81 di New York. Mata uang tunggal berada di level US$ 1,3747 dari level US$ 1,3738. Sebuah data optimis dari Amerika Serikat dalam beberapa pekan terakhir telah memicu spekulasi the Fed akan mengumumkan pengurangan dalam pembelian obligasi bulanan senilai US$ 85 miliar per bulan pada akhir pertemuan selama dua hari pada hari Rabu. Opini dibagi pada apakah ia akan mulai memangkas program pembelian obligasi pada bulan ini atau awal tahun depan. Mata uang dolar dan yen juga melemah seiring pasar mengambil isyarat dari penurunan harga saham Jepang, kata seorang dealer senior di sebuah bank besar di Tokyo. Nilai tukar nyaris tidak bergerak setelah Bank of Japan merilis survei Tankan yang mengatakan kepercayaan bisnis telah mencapai level tertingginya dalam enam tahun terakhir pada periode Oktober-Desember, menggarisbawahi optimisme tumbuh di antara perusahaan-perusahaan besar. (izr)

 

Dollar Slips in Asia Shead of Fed Meeting

AFP (16/12) -- The dollar slipped in Asia on Monday as investors adjusted positions ahead of a key US Federal Reserve policy meeting this week that could see the bank announce a cut to its stimulus programme.

The greenback which had touched a five-year high 103.93 yen on Friday before easing later in the day -- fetched 102.81 yen in Tokyo late morning trade, against 103.23 yen in New York Friday. The euro, which also hit a five-year high of 142.83 yen against the yen on Friday before falling back -- bought 141.44 yen compared with 141.81 yen in New York. The single currency was at $1.3747 from $1.3738. A string of upbeat data out of the United States in recent weeks has fuelled speculation the Fed will announce a reduction in its $85 billion a month bong-buying scheme at the end of its two-day meeting Wednesday. Opinion split on whether it will begin winding down its bond-buying programme this month or early next year. The dollar-yen rate also weakened as markets took a cue from falling Japanese share prices, said a senior dealer at a major bank in Tokyo. Currency rates hardly moved soon after the Bank of Japan released said its Tankan survey of business confidence had hit a six-year high in the October-December period, underscoring growing optimism among major firms.