Gold Futures Advance Most This Month as Chinese Buyers Return

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Gold futures climbed the most in more than three weeks as buyers returned from holidays in China, the world™s biggest consumer after India.

Volumes for the Shanghai Gold Exchange™s benchmark spot contract gained for the second straight day. Markets in China were shuttered in the five sessions through Feb. 24 for the Lunar New Year holiday. The country™s gold imports from Hong Kong rose in January from the previous month as jewelry demand increased, data showed Thursday.

Futures rose for a second straight session. On Wednesday, Federal Reserve Chair Janet Yellen concluded testimony before Congress and reiterated that the central bank™s timetable for raising interest rates is flexible. Higher rates curb gold™s appeal because the metal generally offers returns only through price gains.

Gold futures for April delivery rose 0.7 percent to settle at $1,210.10 an ounce at 1:47 p.m. on the Comex in New York, the biggest increase since Jan. 30.

China™s net gold imports from Hong Kong totaled 71.6 metric tons in January, up from 58.8 tons in December, according to data compiled by Bloomberg from figures released Thursday by the Hong Kong Census and Statistics Department.

Source: Bloomberg

Gold Rose to Highest in a Week on China Demand, Rates Outlook

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Gold climbed to the highest in a week after Chinese buyers returned from holidays and investors speculated that the Federal Reserve will keep interest rates low. Platinum rose the most this month.

Gold for April delivery rose as much as 1.5 percent to $1,219.90 an ounce, the highest since Feb. 15 and traded at $1,216.60 by 8:12 a.m. on the Comex in New York. It™s down 4.9 percent this month, while still 2.7 percent higher this year. Bullion for immediate delivery rose 1 percent to $1,217.40 in London, according to Bloomberg generic pricing.

Source : Bloomberg

Nasdaq Composite Climbs on Tech Rally While Energy Shares Slump

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The Nasdaq Composite Index climbed closer to a record amid a rally in technology companies, while a slump in energy shares sent the Standard & Poor 500 Index lower.

Salesforce.com Inc. soared 12 percent after it raised its revenue forecast, leading gains among technology shares. Phone companies climbed 0.5 percent in the S&P 500 as the Federal Communications Commission adopted net-neutrality rules. Chevron Corp. and Exxon Mobil Corp. lost more than 1.1 percent as energy companies dropped 1.8 percent.

The Nasdaq Composite rose 0.4 percent at 4 p.m. in New York, resuming a climb toward an all-time high reached during the dot-com era in 2000. The S&P 500 fell 0.2 percent to 2,110.76. The Dow Jones Industrial Average lost 10.21 points, or 0.1 percent, to 18,214.36.

The S&P 500 has gained 5.8 percent in February, poised for the best monthly performance since October 2011, while the Dow has added 6.1 percent. The Nasdaq Composite has rallied 7.6 percent, buoyed by gains in Apple Inc., which has the biggest weighting in the index. The gauge advanced for 10 straight days through Feb. 24, and is now about 1.2 percent from its March 2000 record.

Source: Bloomberg

U.S. Stocks Fluctuate Near Record Levels as Energy Shares Slump

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U.S. stocks fluctuated, after benchmark indexes closed Wednesday near all-time highs, as energy shares tumbled while a rally in technology companies helped push the Nasdaq Composite Index closer to a record.

Salesforce.com Inc. soared 11 percent after it raised its revenue forecast. Chevron Corp. and Exxon Mobil Corp. lost more than 1 percent as energy companies dropped 1.5 percent.

The Standard & Poor™s 500 Index fell 0.1 percent to 2,111.28 at 12:02 p.m. in New York. The Dow Jones Industrial Average lost 17.25 points, or 0.1 percent, to 18,207.32. The Nasdaq Composite rose 0.3 percent, resuming its climb toward an all-time high reached during the dot-com era in 2000.

The S&P 500 has gained 5.9 percent in February, poised for the best monthly performance since October 2011, while the Dow has added 6.1 percent. The Nasdaq Composite has rallied 7.5 percent, buoyed by gains in Apple Inc., which has the biggest weighting in the index. The gauge advanced for 10 straight days through Feb. 24, and is now about 1.3 percent from its March 2000 record.

Source: Bloomberg

Gold Futures Advance Most This Month as Chinese Buyers Return

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European stocks climbed to the highest level since July 2007 as Bayer AG and GDF Suez SA rose after reporting earnings.

The Stoxx Europe 600 Index advanced 1 percent to 390.69 at the close of trading, the biggest gain in more than a month. Bayer added 3.7 percent as it forecast an increase in 2015 sales. GDF Suez gained 1 percent after saying it will cut costs and posting annual net income in line with estimates.

The Stoxx 600 has rallied 6.4 percent in February, pushing gains this year to 14 percent, as Greece reached a bailout deal and the European Central Bank announced quantitative easing.

In Germany, the DAX Index jumped 1 percent as data showed unemployment in February fell twice as much as forecast.

Among other stocks moving after results, Solvay SA rallied 3.8 percent as it reported quarterly net income that was more than double the average analyst projection.

Anheuser-Busch InBev NV gained 3.1 percent after announcing plans to buy back $1 billion of shares. The brewer said beer industry volume in the U.S., its largest market, will continue to improve this year. Peers Heineken NV and Carlsberg A/S rose more than 2 percent. A gauge of food and beverage companies posted the best performance among 19 Stoxx 600 industry groups.

Cie. de Saint-Gobain SA slipped 2.1 percent as Europe™s biggest supplier of building materials reported annual net income that missed analysts™ predictions.

Royal Bank of Scotland Group Plc slid 4.1 percent after posting a seventh annual loss as it wrote down the value of its U.S. unit. Operating profit fell short of projections.

Source: Bloomberg

Gold Futures Gain as Yellen Signals Rate Increase Isn’t Imminent

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Gold futures rebounded from a seven-week low after Federal Reserve Chair Janet Yellen signaled an interest-rate increase isn™t imminent. Palladium climbed to the highest in almost six weeks.

Yellen, testifying to the Senate Banking Committee on Tuesday, indicated that a change in the Fed™s guidance on borrowing costs won™t lock the central bank into a timetable. Higher interest rates curb gold™s appeal because the metal generally gives returns only through price gains.

Gold has increased 1.5 percent this year as signs of an economic slowdown in China and turmoil over Greece™s debt boosted demand for haven assets. While the U.S. labor market is improving, inflation is below the Fed™s goal and wage growth is œsluggish, Yellen said Tuesday. She testified in the House of Representatives Wednesday.

Gold futures for April delivery rose 0.4 percent to settle at $1,201.50 an ounce at 1:47 p.m. on the Comex in New York. The metal fell to $1,190 on Tuesday, the lowest since Jan. 5, before paring losses after Yellen spoke to Congress.

Source: Bloomberg

Gold Rise After Yellen Signals Rate Increase Isn’t Imminent

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Gold rebounded from the lowest level in seven weeks and silver rose after Federal Reserve Chair Janet Yellen signaled an interest-rate increase isn™t imminent. Palladium climbed to the highest in six weeks.

Yellen, testifying to the Senate Banking Committee on Tuesday, indicated that a change in the Fed™s guidance on interest rates won™t lock the central bank into a timetable for tightening. Higher interest rates curb gold™s appeal because the metal generally gives returns only through price gains.

Gold for April delivery rose as much as 1.2 percent to $1,211.70 an ounce and traded at $1,209.50 at 8:05 a.m. on the Comex in New York, rebounding from three days of losses. Bullion dropped to as low as $1,190 an ounce on Tuesday, the lowest price since Jan. 5.

Prices may get a boost from buyers in China, who returned from a week-long holiday on Wednesday, Howie Lee, an investment analyst at Phillip Futures Pte, wrote in a note.

Silver for May delivery climbed 2.5 percent to $16.64 an ounce.

Source : Bloomberg

U.S. Stocks Little Changed Near Records Amid Corporate Earnings

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U.S. stocks were little changed near all-time highs as declines in Hewlett-Packard Co. and Apple Inc. offset gains among retailers amid corporate earnings.

Hewlett-Packard tumbled 9.9 percent after saying earnings will be hurt by the rising dollar. Apple lost 2.6 percent as technology shares slumped 0.7 percent. Chesapeake Energy dropped 9.6 percent as earnings fell short of analysts™ projections. Dollar Tree Inc. and TJX Cos. added more than 2.2 percent to pace gains among retailers.

The Standard & Poors 500 Index fell less than 0.1 percent to 2,113.83 at 4 p.m. in New York. The Dow Jones Industrial Average rose 15.38 points, or less than 0.1 percent, to a record 18,224.57. The Nasdaq Composite lost less than 1 point, ending a 10-day rally that brought the gauge to within 1.6 percent of its 2000 record.

Source: Bloomberg

U.S. Stocks Fluctuate Near Record Levels Amid Corporate Earnings

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U.S. stocks fluctuated, after benchmark gauges closed at all-time highs, as gains among retailers on corporate earnings offset declines in Hewlett-Packard Co. and Chesapeake Energy Corp.

Dollar Tree Inc. and TJX Cos. added more than 3 percent to pace gains among retailers. Hewlett-Packard tumbled 9.5 percent after saying earnings will be hurt by the rising dollar. Chesapeake Energy lost 9.7 percent as earnings fell short of analysts™ projections.

The Standard & Poor™s 500 Index rose less than 0.1 percent to 2,115.91 at 12:14 a.m. in New York. The Dow Jones Industrial Average gained 15.71 points, or 0.1 percent, to 18,224.90. The Nasdaq Composite Index added 0.1 percent after a 10-day rally brought the gauge to within 1.6 percent of its 2000 record.

The S&P 500 rose last week as minutes from the central bank™s latest meeting showed some policy makers argued for keeping rates low for longer amid risks facing the economy.

Source: Bloomberg

European Stocks Little Changed as Banks, Autos Offset Axa Gains

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European stocks closed little changed near a seven-year high as losses in banks and auto companies countered Axa SA™s advance.

Greek lenders led a measure of bank stocks lower, with National Bank of Greece SA and Piraeus Bank SA tumbling more than 11 percent. Auto-related stocks posted the worst performance of the 19 industry groups on the Stoxx Europe 600 Index as Valeo SA slid 2.3 percent after missing estimates for full-year operating profit. Continental AG retreated 2.5 percent. Axa rose 2.6 percent after posting a 12 percent jump in annual profit.

The Stoxx 600 dropped 0.1 percent to 386.76 at the close of trading, paring earlier losses of as much as 0.4 percent. The equity gauge rose 0.6 percent on Tuesday, pushing its gains this year to 13 percent, as Greece reached a bailout deal and the Federal Reserve pledged patience on raising interest rates. The Greek ASE Index slid 1.6 percent today, for the biggest drop among 18 western-European markets.

Source: Bloomberg

Dollar Falls as Yellen Says Interest-Rate Outlook Not Locked In

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The dollar fell from the day™s high after Federal Reserve Chair Janet Yellen said a change in the central bank™s guidance won™t lock it into a timetable for raising interest rates.

The U.S. currency rose earlier as Yellen told a Senate committee said the labor market is improving even as inflation and wage growth remain too low. The dollar has rallied this year as the U.S. economy outperformed it major peers, leading the Fed to consider reducing monetary stimulus while central banks around the world lower interest rates and buy bonds in an effort to bolster growth.

The Bloomberg Dollar Spot Index, a gauge of the currency versus its 10 major counterparts, declined 0.3 percent to 1,165.30 as of 3:22 p.m. in New York. It added as much as 0.5 percent earlier. The index touched 1,175.99 on Feb. 11, the highest level in data going back to 2004.

The U.S. currency traded little changed at 118.91 yen and $1.1336 per euro.

Source: Bloomberg

Gold Posts Longest Slump This Year on U.S. Interest-Rate Outlook

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Gold futures fell, capping the longest slump this year, after Federal Reserve Chair Janet Yellen failed to allay concerns that U.S. interest rates will rise, eroding the appeal of the precious metal as an alternative asset.

Yellen signaled that a change in the Fed™s guidance on interest rates won™t lock it into a timetable for tightening, according to testimony prepared for delivery before the Senate Banking Committee. Gold extended a slump to a seven-week low.

Gold futures for April delivery fell 0.3 percent to settle at $1,197.30 an ounce at 2:03 p.m. on the Comex in New York. The price dropped for the third straight session, the longest slump since Dec. 24. Earlier, the metal touched $1,190, the lowest for a most-active contract since Jan. 5.

Yellen testified in the Senate on Tuesday and is set to appear before the House of Representatives Wednesday. Richmond Fed President Jeffrey Lacker was cited by Market News International as saying the central bank may raise rates in June or April. Higher rates curb gold™s appeal because the metal generally gives returns only through price gains.

Source: Bloomberg

U.S. Stocks Advance on Rate Speculation After Yellen Statement

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U.S. stocks rose, sending benchmark gauges to records, after Federal Reserve Chair Janet Yellen indicated an increase in interest rates is unlikely before mid-year as inflation and wage growth remain too low.

The Standard & Poor™s 500 Index rose 0.3 percent to a record 2,115.52 at 4 p.m. in New York. The Dow Jones Industrial Average gained 92.67 points, or 0.5 percent, to 18,209.51, as Home Depot Inc. and JPMorgan Chase & Co. rallied. The Nasdaq Composite Index added 0.1 percent, climbing for a 10th straight day to bring it 1.6 percent away from its 2000 record.

The S&P 500 has gained 2.8 percent this year and the Dow has added 2.2 percent. The Nasdaq Composite rallied 5.1 percent in the past 10 days, the longest winning streak since July 2009. Apple Inc., which has the biggest weighting in the Nasdaq Composite, has surged 20 percent this year.

The Chicago Board Options Exchange Volatility Index lost 6.1 percent on Tuesday to 13.67, the lowest since December. The gauge, know as the VIX, is on track for its worst month ever.

Yellen said in testimony before the Senate Banking Committee inflation that wage growth remain too low even as the job market improves, and she signaled that a change in the Fed™s guidance on interest rates won™t lock it into a timetable for tightening.

Source: Bloomberg

Saham AS Pangkas Gain Pasca Komentar Yellen Terkait Suku Bunga

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Saham AS memangkas gain pasca mencapai level tertinggi sepanjang masa, karena para investor mengkaji waktu kenaikan suku bunga acuan pasca testimoni dari Ketua Federal Reserve Janet Yellen.

Indeks Standard & Poor 500 naik kurang dari 0,1% menjadi 2,110.57 pada 12:42 siang di New York, setelah naik sebanyak 0,3% sebelumnya. Indeks Dow Jones Industrial Average naik 54,36 poin, atau 0,3%, menjadi 18,171.20 seiring reli Home Depot Inc dan JPMorgan Chase & Co. Indeks Nasdaq Composite turun 0,2% setelah naik sembilan hari sebesar 1,7% dari rekor di tahun 2000 lalu.(yds)

Sumber: Bloomberg

Europe Stocks Extend 2007 High as Greek Shares Jump on Aid Deal

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European stocks extended a seven-year high as Greece reached a bailout deal and the Federal Reserve pledged patience on raising interest rates. Greek shares surged.

The Stoxx Europe 600 Index rose 0.6 percent to 387.25 at the close of trading, pushing its gains this year to 13 percent. The U.K.™s benchmark FTSE 100 Index closed at an all-time high, climbing 0.5 percent to surpass the previous record in 1999.

Greece™s ASE Index soared 9.8 percent, following a market holiday on Monday, as euro-area leaders approved a bailout extension for four more months. The gauge rose to the highest level since former Prime Minister Antonis Samaras announced elections in December, triggering concern over debt negotiations. National Bank of Greece and Alpha Bank AE rallied 17 percent.

European stocks extended gains as Fed Chair Janet Yellen said the central bank will be flexible about the timing of an interest-rate rise even after it changes its forward guidance. She reiterated in a testimony before the Senate Banking Committee that an increase is unlikely for œat least the next couple of meetings.

Source: Bloomberg

Gold Drops to Seven-Week Low on Greek Accord as Platinum Falls

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Gold futures fell to a seven-week low after Greece reached a provisional accord on a bailout with euro-area finance ministers, reducing demand for the metal as a haven. Platinum dropped to the cheapest in five years.

Gold has dropped below $1,200 an ounce after last month topping $1,300, partly on speculation that Greece would reach a debt agreement. The metal fell as the dollar gained amid bets the Federal Reserve will raise interest rates this year. Fed Chair Janet Yellen is scheduled to speak Tuesday in the Senate and the following day in the House.

On the Comex in New York, gold futures for April delivery fell 0.3 percent to settle at $1,200.80 at 1:40 p.m. Earlier, the price touched $1,190.60, the lowest for a most-active contract since Jan. 5.

Aggregate trading was 30 percent below the average for the past 100 days for this time, according to data compiled by Bloomberg.

Source: Bloomberg

Oil Extends Weekly Decline as Global Supply Glut Seen Growing

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Crude extended a weekly decline amid speculation excess supply will increase as Libya restarted a pipeline halted by a fire and the U.S. idled fewer drilling rigs than in previous weeks.

West Texas Intermediate oil dropped as much as 4.2 percent after falling 4.6 percent last week. Oil fields in eastern Libya resumed pumping to the port of Hariga after a pipeline was repaired, according to state-run National Oil Corp. The number of oil rigs in the U.S. fell by 37 to 1,019 last week, the least in service since July 2011, data from Baker Hughes Inc. showed on Friday. It was the smallest cut in seven weeks.

Rising supply is contributing to a global surplus that drove crude down by almost half in 2014. OPEC has signaled that it™s prepared to let prices fall to a level that would force surging U.S. output to slow. American crude inventories and production expanded to the highest level in more than three decades, government data showed last week.

Source : Bloomberg

U.S. Stocks Little Changed, Nasdaq Extends Rally; Oil, Gold Drop

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U.S. stocks were little changed, with benchmark indexes near all-time highs, as Apple Inc. rallied to send the Nasdaq Composite Index to its ninth straight gain. Oil fell below $50 a barrel, while gold dropped to a seven-week low. The dollar strengthened and Treasuries rose.

The Standard & Poors 500 Index fell less than 0.1 percent at 4 p.m. in New York after closing at an all-time high on Friday. The Nasdaq Composite added 0.1 percent to cap its longest rally since September 2010. The yield on 10-year Treasury notes fell five basis points to 2.06 percent. The dollar strengthened against emerging-market currencies before Federal Reserve Chair Janet Yellen addresses Congress this week. U.S. oil fell 2.7 percent, and gold slipped to $1,200.80 an ounce.

Apple Inc. jumped 2.7 percent to pace gains among technology shares, while energy shares slid 0.4 percent as oil resumed declines. Major U.S. equity benchmarks closed at records Friday after Greece reached a deal on its bailout. The government in Athens has until midnight Greek time to complete a list of policies in return for continued funding. A Greek government official said it will be sent on Tuesday. Investors will watch Yellen™s semi-annual testimony to Congress starting Tuesday for clues on the timing of an interest-rate increase.

Source: Bloomberg

U.S. Stocks Fall as Crude Slides; European Shares Rise on Greece

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U.S. stocks declined from records as oil dropped below $50 a barrel. The dollar strengthened against emerging-market currencies before Federal Reserve Chair Janet Yellen addresses Congress this week.

The Standard & Poor™s 500 Index slid 0.3 percent at 12:47 p.m. in New York after closing at an all-time high on Friday. The Stoxx Europe 600 Index added 0.7 percent, while Portugal™s 10-year rate reached 2.118 percent, below its U.S. equivalent. The dollar strengthened, while the ruble slid 3.6 percent in offshore trading after Moody™s Investors Service downgraded Russia to junk. Oil lost 3.2 percent in New York.

Major U.S. equity benchmarks closed at records Friday after Greece reached a deal to extend the terms of its bailout. Investors will watch Yellen™s semi-annual testimony to Congress starting Tuesday for clues on the timing of an interest-rate increase. A report Monday showed sales of existing U.S. homes fell more than forecast last month. European equities gained on the Greek deal.

Source: Bloomberg

Europe Stocks Extend 2007 High After Greek Agreement; HSBC Falls

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European stocks climbed for a fifth day after Greek creditors agreed to extend the nation™s bailout funds.

The Stoxx Europe 600 Index added 0.7 percent to 385.08 at the close in London. The FTSE 100 Index surpassed a record close in intraday trading before falling as much as 0.4 percent as lower-than-projected profit at HSBC Holdings Plc dragged the stock lower. The U.K. gauge ended little changed.

The Stoxx 600 reached its highest level since October 2007 after advancing for a third week, the longest stretch since the start of December, on optimism Greece and its creditors would agree on a deal. The nation™s bailout terms were extended by four months, and Greece needs to complete by the end of the day a list of policies in return for the continued funding. Finance chiefs will then decide whether the proposals go far enough or trigger another round of emergency negotiations this week.

The nation™s ASE Index slipped 4.5 percent last week. The Greek market was closed on Monday for a holiday. Ireland™s ISEQ Index, the Dutch AEX Index and the OMX Copenhagen 20 Index climbed the most among 18 western-European markets on Monday.

Source: Bloomberg

Asian Stocks Rise as Gold Holds Losses on Greece Deal; Oil Falls

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Asian stocks climbed, with Japan™s Nikkei 225 Stock Average building on a 15-year high, and gold held losses as investors await progress on Greece™s bailout extension agreed Feb. 20. Oil fell in New York.

The Nikkei 225 gained 0.8 percent by 9:20 a.m. in Tokyo, while Australia™s S&P/ASX 200 Index added 0.4 percent following a fifth straight weekly gain. Futures on the Standard & Poor™s 500 Index were little changed after the U.S. gauge closed at a record. The euro was little changed, while gold traded at $1,202.41 an ounce following a 0.4 percent retreat Friday. Oil in New York dropped after sliding 4.6 percent last week.

The government in Athens has until the end of Monday to complete a list of policies in return for a four-month extension of bailout funds after talks concluded late on Feb. 20. Bank of Japan Governor Haruhiko Kuroda addresses parliament after minutes of its January meeting were released. Officials in Kiev said pro-Russia rebels in Ukraine™s east continued to attack troops, while a bomb killed two people at a rally in the city of Kharkiv.

Source : Bloomberg

Japan Stocks Rise as Investors Watch Progress on Greek Debt Deal

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Japanese stocks rose, led by precision instrument makers, as investors await progress on an agreement among euro-area finance ministers on Greece™s bailout program.

The Topix advanced 0.6 percent to 1,508.76 as of 9:01 a.m. in Tokyo, on course to rise for a seventh day, its longest winning streak since early December. All but three of its 33 industry groups gained. The Nikkei 225 jumped 0.9 percent to 18,487.61, on course for its highest close since April 2000.

After talks in Brussels between officials from the 19 euro members concluded late on Feb. 20 with an agreement to extend bailout funds for four months, the government in Athens now has until the end of Monday to complete a list of policies in return for the continued funding. Finance chiefs will then decide whether the proposals go far enough or trigger another round of emergency negotiations this week.

Futures on the Standard & Poor™s 500 Index were little changed after the underlying gauge added 0.6 percent to a record close on Feb. 20 in New York on optimism about the Greek deal.

The Greek reform measures are still subject to validation by the International Monetary Fund, the European Central Bank and the European Commission, the institutions collectively known as the troika which Prime Minister Alexis Tsipras vowed not to recognize.

Bank of Japan Governor Haruhiko Kuroda is scheduled to appear in Japan™s parliament from 10:40 a.m. local time. Policymakers agree that Japan™s economy is gradually picking up, according to minutes of the central bank™s January meeting released today.

Source : Bloomberg

Euro Holds Gains After Greece Reaches Deal on Bailout Program

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The euro held gains against the dollar after Greece reached a deal on extending its bailout program, tempering speculation the nation will exit the currency region.

The 19-nation single currency erased a 0.8 percent decline on Feb. 20 after euro-area finance ministers reached an agreement that would keep bailout funds flowing to Greece for another four months. Options traders are willing to pay the most in a month to guard against losses in the euro with Greece having until the end of Monday to complete a list of policies in return for the continued funding.

The euro fetched $1.1385 at 8:49 a.m. in Tokyo, compared with $1.1381 on Friday, when it gained 0.1 percent. It advanced as much as 0.3 percent on Monday. Against its Japanese counterpart, the shared currency was little changed at 135.56 yen, after rising 0.2 percent at the end of last week.

The premium on one-week contracts to sell the euro versus the dollar, over those to buy, touched 1.65 percentage points, the most since Jan. 19, according to 25-delta risk-reversal data compiled by Bloomberg.

Source : Bloomberg

Gold Drops Below $1,200 as Optimism on Greece Cuts Haven Demand

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Gold futures fell below $1,200 an ounce as Greece and European finance ministers reached an accord on a bailout extension, eroding demand for the precious metal as a haven.

The metal posted the fourth straight weekly decline, the longest slump since early October. On Wednesday, the price touched 1,197.20, the lowest since Jan. 5, partly on signs of declining demand in China. Earlier Friday, gold climbed as much as 0.6 percent after Malta™s finance chief said a German-led bloc is willing to let Greece leave the euro.

Gold futures for April delivery dropped 0.2 percent to settle at $1,204.90 at 1:49 p.m. on the Comex in New York. After the close, the price touched $1,197.70.

This year, the metal has climbed 1.8 percent as Greek turmoil spurred currency volatility.  Tension in the region also signaled sluggish economic growth, boosting the appeal of gold as a store of value.

Source: Bloomberg

S&P 500, Dow Jump to Records After Deal on Greek Aid Extension

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U.S. stocks rose, sending benchmark indexes to records, after European officials reached a deal to extend Greece™s aid for four months.

The Standard & Poor™s 500 Index climbed 0.6 percent to a record 2,110.14 at 4 p.m. in New York. The Dow Jones Industrial Average climbed 153.90 points, or 0.9 percent, to 18,139.67, also an all-time high. The Russell 2000 Index reached a record, and the Nasdaq Composite Index rallied 0.6 percent, up for an eighth straight day to its highest level since March 2000.

This is the first time the Dow has closed at a record this year. It™s been 56 days since the Dow™s last all-time high, reached on Dec. 26. When the S&P 500 reached its first record of 2015 last week, it had been 46 days since the previous one.

The Dow climbed to closing records on 38 days in 2014, and on 52 occasions in 2013 as the index recovered from the financial crisis to top its previous high from October 2007 for the first time.

The S&P 500 is up 0.6 percent for the holiday-shortened week after reaching a record reached Feb. 17. It has gained 2.5 percent this year, trailing all but three of the 24 developed markets tracked by Bloomberg.

Source : Bloomberg

Gold Climbs With Silver as Fed Minutes Show Rates May Stay Low

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Gold futures rose the most this month after minutes from the Federal Reserve™s January meeting showed policy makers argued for keeping interest rates near record lows for longer. Silver advanced.

Bullion for April delivery added as much as 1.9 percent, the most since Jan. 30, to $1,222.90 an ounce. It was at $1,221 by 7:34 a.m. on the Comex in New York, after touching a six-week low of $1,197.20 on Wednesday.

Gold for immediate delivery climbed 0.7 percent to $1,220.86 in London, according to Bloomberg generic pricing.

Prices gained 3.1 percent on the futures market this year, partly as turmoil over Greece spurred haven demand. The country™s government submitted a request to its euro-area creditors to extend the availability of bailout funds for six months in a last-ditch effort to avert a cash crunch. Germany rejected Greece™s request, saying its offer doesn™t meet the euro region™s conditions for continuing aid.

Source : Bloomberg

Oil Falls With Ruble as Europe Stocks Rise on Greek Deal Outlook

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Slumping oil prices damped demand for Russia™s ruble and increased the appeal of bonds. European stocks rebounded with Greek shares on prospects for a compromise between the country™s government and its creditors.

West Texas Intermediate crude slid 3.5 percent to $50.31 a barrel at 7:03 a.m. in New York. The Stoxx Europe 600 Index advanced 0.2 percent while Greece™s ASE index gained 1.3 percent and the nation™s bonds rose after the government submitted a request to extend the availability of bailout funds for six months. Standard & Poor™s 500 Index futures lost less than 0.1 percent. Treasuries gained with U.K. gilts and German bunds. The ruble fell for the first time in five days.

U.S. crude stockpiles probably rose for a sixth week to the highest in at least three decades, analysts in a Bloomberg survey said before an Energy Information Administration report. While oil has rebounded from a six-year low in January, some options traders are betting the gains won™t last.

Stocks and S&P 500 futures were little changed after gains this year boosted the value of global equities to a record $67 trillion, while lower oil prices spurred deflation in countries from France to Finland. Treasuries extended their advance from Wednesday, when Federal Reserve officials signaled an inclination to keep rates on hold œfor a longer time in minutes of their January meeting.

Source: Bloomberg

U.S. Stocks Fall as Oil Tumbles, Germany Rejects Greek Proposal

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U.S. stocks fell as oil prices tumbled for a second day and Germany rejected a proposal from Greece to seek an extension of its loan facilities.

The Standard & Poor™s 500 Index fell 0.3 percent to 2,093.56 at 9:32 a.m. in New York. West Texas Intermediate crude oil lost 5 percent to slip below $50 a barrel.

Futures advanced earlier after the European Commission said a letter by Greece™s government requesting the extension of its loan facilities could pave the way for a compromise agreement. Gains were quickly erased after a German government official said Greece™s request is not in line with agreed criteria for the euro region.

The S&P 500 was little changed Wednesday, erasing a loss as speculation that the Federal Reserve will keep rates lower for longer overshadowed a drop in energy shares. Minutes from the Fed™s latest meeting showed some policy makers argued for keeping rates low for longer amid risks facing the economy.

Source: Bloomberg

Gold Climbs With Silver as Fed Minutes Show Rates May Stay Low

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Gold futures rose the most this month after minutes from the Federal Reserve™s January meeting showed policy makers argued for keeping interest rates near record lows for longer. Silver advanced.

Bullion for April delivery added as much as 1.7 percent, the most since Jan. 30, to $1,221 an ounce on the Comex in New York. It was at $1,217.70 by 10:13 a.m. in London, after touching a six-week low of $1,197.20 on Wednesday.

Futures trading volume was 40 percent below the 100-day average for this time of day, according to data compiled by Bloomberg. Gold for immediate delivery climbed 0.4 percent to $1,217.78 in London, according to Bloomberg generic pricing.

Holdings in gold-backed exchanged-traded products rose for the first time in a week, adding 0.1 metric ton to 1,670.4 tons as of Wednesday, data compiled by Bloomberg show. Assets reached a four-month high on Feb. 9.

Silver for March delivery advanced 2 percent to $16.585 an ounce in New York, after dropping to the lowest since Jan. 9 on Wednesday. Platinum increased 1 percent to $1,178.50 an ounce, rebounding from the lowest since 2009. Palladium was little changed at $776.50 an ounce.

Source: Bloomberg

European Stocks Drop From Seven-Year High as Energy Shares Fall

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European stocks fell from a seven-year high as energy shares declined.

The Stoxx Europe 600 Index slipped 0.2 percent to 379.46 at 8:11 a.m. in London. Total SA and BG Group Plc dropped at least 1.3 percent as crude prices fell, sending a gauge of oil and gas shares to the worst performance among 19 Stoxx 600 industry groups. Pressure also increased for Greece to reach a deal with its creditors before its bailout agreement ends this month.

The Stoxx 600 rose 0.9 percent on Wednesday on speculation for a Greek deal after an official said its government will submit a request on Thursday for a six-month loan extension. The gauge has surged 11 percent this year as the ECB announced quantitative easing last month.

The central bank will publish on Thursday a summary of its monetary-policy meeting for the first time. The document will cover the Jan. 22 deliberations behind its decision to start buying government bonds.

Source: Bloomberg

Oil Extends Decline as U.S. Crude Stockpiles Seen Expanding Glut

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Oil fell for a second day before U.S. government data forecast to show crude stockpiles in the world™s biggest consumer expanded to a record level.

Futures slid as much as 3.7 percent in New York. Crude supplies probably rose by 3 million barrels to 420.9 million through Feb. 13, according to a Bloomberg News survey before a report Thursday from the Energy Information Administration. That would be the highest in weekly records compiled by the EIA since August 1982. Industry data Wednesday showed inventories climbed by 14.3 million barrels, according to reports on Twitter.

Rising U.S. crude stockpiles contributed to a global glut that drove prices almost 50 percent lower in 2014. Marathon Oil Corp. will cut an additional 20 percent from its spending plan for this year, as companies including Royal Dutch Shell Plc and Chevron Corp. reduce investments in response to the collapse.

West Texas Intermediate for March delivery dropped as much as $1.91 to $50.23 a barrel in electronic trading on the New York Mercantile Exchange and was at $50.70 at 1:24 p.m. Sydney time. The contract fell $1.39 to $52.14 on Wednesday. The volume of all futures traded was about 39 percent above the 100-day average. Prices have decreased 4.8 percent this year.

Source : Bloomberg

Dollar Holds Decline as Fed Minutes Show No Hurry to Raise Rates

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The dollar remained weaker versus the yen after minutes Wednesday from the Federal Reserve™s January meeting showed policy makers argued for keeping interest rates near record lows longer due to risks facing the economy.

The greenback fell against the majority of its Group-of-10 peers after committee members pointed to the dollar™s strength, international flash points from Greece to Ukraine, and slow wage growth as weakening the case for the first rate increase since 2006. Treasury yields fell the most this month Wednesday.

The dollar was little changed at 118.74 yen as of 9:55 a.m. in Tokyo from Wednesday, when it slid 0.4 percent. The greenback traded at $1.1404 per euro from $1.1397. The single currency bought 135.41 yen from 135.39.

The main lending rate has been in a range of zero to 0.25 percent since 2008.

Source : Bloomberg

Nikkei 225 Heads for 15-Year High as Japan’s Megabanks Rise

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Japan stocks rose, with the Nikkei 225 Stock Average heading for the highest close in 15 years, as the biggest banks jumped and Trend Micro Inc. and Sony Corp. gained.

Mitsubishi UFJ Financial Group Inc., Japan™s largest lender, climbed 2.5 percent to be the biggest support to the Topix Index as banks led gains among industry groups. Anti-virus software maker Trend Micro added 5.9 percent, the strongest support to the Nikkei 225, after projecting profit above analyst estimates. Sony jumped 2.7 percent after forecasting a surge in operating earnings.

The Nikkei 225 gained 0.5 percent to 18,283.73 at the trading break in Tokyo, on course for the highest closing level since May 2000. The Topix added 0.6 percent to 1,491.51, after it closed yesterday at the strongest since December 2007. Two stocks rose for each that fell on the gauge.

The Topix Banks Index gained 2.1 percent, bringing this year™s advance to 10 percent. The industry group dropped 3.9 percent last year, when the broader Topix gained 8.1 percent.

Mitsubishi UFJ gained 2.5 percent to 761.7 yen. Sumitomo Mitsui Financial Group Inc. added 2.4 percent to 4,674.5 yen, while Mizuho Financial Group Inc. climbed 2.7 percent to 216.3 yen. All three lenders, Japan™s so-called megabanks, were the biggest supports on the Topix.

Source : Bloomberg

S&P 500 Erases Loss as Decline in Energy Overshadows Fed Minutes

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The Standard & Poor™s 500 Index erased a loss as speculation that the Federal Reserve will keep rates lower for longer overshadowed a drop in energy shares.

The S&P 500 slipped less than 1 point to 2,099.65 at 4 p.m. in New York, after losing as much as 0.4 percent. Energy companies in the benchmark index fell 1.5 percent as crude oil declined 2.6 percent from a seven-week high.

Equities pared losses as minutes from the Fed™s latest meeting showed some policy makers argued for keeping rates low for longer amid risks facing the economy.

The FOMC said after its last meeting it œcan be patient as it considers when to raise the benchmark interest rate, even as it described the labor market as œstrong. A report the following week showed payrolls rose more than forecast in January to cap the strongest three-month gain in 17 years.

Source: Bloomberg

U.S. Stocks Fall Amid Economic Data Before January Fed Minutes

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U.S. stocks fell, after the Standard & Poor™s 500 Index rose to a record Tuesday, as factory production rose less than forecast before the release of minutes from the last Federal Reserve meeting.

S&P 500 slipped 0.2 percent to 2,096.28 at 12:04 p.m. in New York, after the benchmark index closed at a record Tuesday. The Dow Jones Industrial Average lost 30.97 points, or 0.2 percent, to 18,016.61. Trading in S&P 500 companies was 19 percent below the 30-day average.

In a statement after its January meeting, the Fed reiterated the previous month™s stance that the committee would be patient in deciding when to begin raising interest rates, and said job gains were strong. Several Fed officials have said the U.S. central bank™s first interest-rate increase in almost a decade may come as soon as June. Minutes from the meeting are due at 2 p.m. in Washington.

Source: Bloomberg

Gold Futures Tumble to Six-Week Low on Signs China’s Demand Ebbs

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Gold futures fell to a six-week low approaching $1,200 an ounce on speculation that Chinese demand will fall during the Lunar New Year holiday. Silver tumbled, and platinum dropped to the cheapest in more than five years.

Volume in the Shanghai Gold Exchange™s benchmark spot contract dropped to the lowest in a year. Markets in China, the world™s second-biggest buyer, will be closed for five sessions starting Wednesday. Investors assessed the risks from a breakdown in talks between Greece and its creditors as U.S. equities traded close to a record high.

Gold futures for April delivery fell 1.5 percent to settle at $1,208.60 at 1:54 p.m. on the Comex in New York. Earlier, the price touched $1,203.30, the lowest for a most-active contract since Jan. 6. Floor trading was closed on Monday for the U.S. Presidents™ Day holiday.

Source: Bloomberg

Gold Falls With Silver on Concern Chinese Buying Will Decline

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Gold and silver led losses in precious metals on speculation Chinese demand will fall during the Lunar New Year holiday.

Volumes for the Shanghai Gold Exchange benchmark spot contract dropped about 75 percent from Mondays level to the lowest in more than a year, data from the bourse show. China, the second-biggest bullion buyer after India, will close markets for five days starting Wednesday.

Gold for April delivery lost as much as 0.7 percent to $1,218.30 an ounce and traded at $1,220.10 by 8:12 a.m. on the Comex in New York. Silver for March delivery fell as much as 3.7 percent, the most this month, to $16.655 an ounce.

Bullion has risen 3.1 percent in 2015 as investors sought a haven from slowing global economic growth and political turmoil over Greeces bailout. The country is moving closer to a euro exit after the currency region™s finance ministers said there will be no more talks on financial support unless the Greek government requests an extension of its existing bailout program.

Source: Bloomberg

U.S. Stocks Climb Amid Optimism on Greece as Oil Prices Rebound

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The Standard & Poor™s 500 Index reached a record for a second day on speculation that the Greek debt impasse is easing while oil prices erased earlier declines.

The S&P 500 climbed 0.1 percent to 2,100.00 at 4 p.m. in New York. U.S. markets were closed for a holiday on Monday.

Greece™s government may request an extension of its loan agreement for six months, according to a person familiar with the matter, a step that could ease a standoff with creditors over the country™s future financing.

Discussions aimed at finding common ground between Greece and its creditors ended on Monday without breaking an impasse. With no deal, the government could run out of money by March and be forced to choose between breaking election promises or abandoning the euro.

The S&P 500 rose to an all-time high last week as technology shares rallied and oil rebounded to end stocks™ longest dip since 2013. Signs of easing tension between Greece and European leaders also helped push U.S. equities higher.

Source : Bloomberg

U.S. Stocks Fluctuate Amid Greek Impasse After S&P 500 Record

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U.S. stocks fluctuated, after the Standard & Poor™s 500 Index reached a record last week, as investors weighed the risks of a Greece debt impasse while a drop in oil was offset by a rise in health-care shares.

The S&P 500 declined 0.1 percent to 2,094.82 at 12:14 p.m. in New York. The Dow Jones Industrial Average lost 20.39 points, or 0.1 percent, to 17,998.96.52. The Russell 2000 Index was little changed after reaching a record Friday. U.S. markets were closed for a holiday on Monday.

Discussions aimed at finding common ground between Greece and its creditors ended on Monday without breaking an impasse. With no deal, the government could run out of money by March and be forced to choose between breaking election promises or abandoning the euro.

The S&P 500 rose to an all-time high last week as technology shares rallied and oil rebounded to end stocks™ longest dip since 2013. Signs of easing tension between Greece and European leaders also helped push U.S. equities higher.

Source : Bloomberg

European Stocks Little Changed as Greek Shares Fall Amid Talks

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European stocks were little changed as a rise in makers of food and drinks offset a drop in Greek equities.

The Stoxx Europe 600 Index added 0.1 percent to 377.02 at the close of trading, after declining as much as 0.7 percent. Diageo Plc and Anheuser-Busch InBev NV rose more than 1.5 percent, pushing a gauge of food and beverage shares higher.

The U.K.™s FTSE 100 Index climbed 0.6 percent to the highest level since December 1999, buoyed by an increase in Diageo and gains of more than 1.9 percent in cigarette makers British American Tobacco Plc and Imperial Tobacco Group Plc.

Greece™s ASE Index dropped 2.5 percent, paring losses of as much as 4.7 percent. Euro-area finance ministers said there will be no more talks on financial support unless the Greek government requests an extension of its existing bailout program. Talks ended abruptly on Monday, when Greece refused a euro-area proposal that it stick to the terms of its current bailout program.

The ASE declined the most among 18 western-European markets. Germany™s DAX Index retreated 0.3 percent. A report showed investor confidence in euro area™s biggest economy rose less than forecast.

The Stoxx 600 dropped 0.1 percent on Monday amid Greek talks after closing on Friday at a seven-year high. The benchmark measure has advanced 10 percent in 2015 as the European Central Bank unveiled quantitative easing.

Source: Bloomberg

Gold Gains in Longest Run in Six Weeks as Leaders Discuss Greece

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Gold gained for a third day, the longest run of advances in almost six weeks, as euro-area finance ministers meet amid an impasse over Greece™s financing.

Talks between Greece and the rest of the euro area ended in acrimony on Monday as officials in Athens lashed out at demands that they stick to the previous government™s austerity program to retain financial support. Bullion climbed more than 3 percent this year party as Greek woes renewed demand for haven assets.

Bullion for immediate delivery rose 0.2 percent to settle at $1,232.55 an ounce by 5 p.m. in New York, according to Bloomberg generic pricing.

Gold rose this year after posting two years of losses. Proettel said traders will probably focus this week on the outlook for U.S. interest rates, with the Federal Reserve set to release minutes of its January meeting on Feb. 18.

Holdings in exchange-traded products fell for a fourth day as of Feb. 13, declining 3.2 metric tons to 1,670.7 tons, data compiled by Bloomberg show. That capped the first weekly drop in a month after assets reached a four-month high on Feb. 9.

Source: Bloomberg