Gold Holds Gain as Weaker Retail Sales Hurt U.S. Growth Outlook

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Gold held gains after rebounding from the lowest level in a month as falling retail sales in the U.S. cast doubt on the pace of growth in the world™s largest economy, boosting demand for a haven. Silver advanced.

Bullion for immediate delivery traded at $1,224.34 an ounce at 8:53 a.m. in Singapore from $1,221.98 on Thursday, when it rebounded from $1,215.30, the lowest level since Jan. 9, according to Bloomberg generic pricing. The metal is still set for a third week of losses, the longest streak since September.

Gold added 3.4 percent this year as the Greek debt crisis and more stimulus in Europe and Asia offset the impact of a stronger dollar and prospects for higher U.S. rates. Talks between Greek negotiators and euro-area officials will resume in Brussels on Friday after ministers failed on Thursday to hammer out terms for an extension of the country™s bailout agreement. While the dollar fell by the most in nearly five months after the retail sales figures, it™s still near a 10-year high.

The Bloomberg Dollar Spot Index was at 1,163.66 from 1,163.11 on Thursday, when it fell 1 percent. The index closed at 1,174.87 on Wednesday, highest since at least December 2004. Lower fuel prices and higher wages failed to spur an uptick in U.S. retail sales, which fell for a second month in January.

Gold for April delivery increased 0.3 percent to $1,224.40 an ounce on the Comex in New York. Silver for immediate delivery gained 0.3 percent to $16.9097 an ounce, heading for a weekly climb. Spot platinum was 0.4 percent higher at $1,203.13 an ounce. Palladium added 0.2 percent to $776.06 an ounce.

Source : Bloomberg

Dollar Slips as Retail-Sales Drop Limits Divergence From World

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The dollar fell the most in nearly five months after a report showed retail sales dropped more than forecast, casting doubt on the pace of U.S. growth, which has been one of the few bright spots in the global economy.

The Federal Reserve is considering when to raise interest rates amid a wave of global easing that™s seen more than 10 central banks add stimulus this year in an attempt to bolster growth. Sweden™s central bank became the latest to ease, sending the krona to its weakest since April 2009.

The Bloomberg Dollar Spot Index slipped 1 percent to 1,163.11 as of 5 p.m. in New York, the biggest loss since Sept. 18. The measure, based on data back to 2004, closed at an all-time high Wednesday.

The greenback slipped 1.1 percent to 119.11 yen and 0.6 percent to $1.1403 per euro. The yen rallied after reports that Bank of Japan policy makers deem further easing counterproductive.

Source : Bloomberg

Asian Stocks Rise With Won Amid Commodity Gains; Yen Holds Jump

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Asian stocks climbed, fueling a second weekly jump for the regional benchmark after American equities jumped with commodity prices and a Ukraine cease-fire deal was forged. Emerging-market currencies rose as the yen held gains.

The MSCI Asia Pacific Index advanced 0.6 percent by 9:31 a.m. in Tokyo, as mining and energy shares drove Australia™s S&P/ASX 200 Index toward its highest close since May 2008. Standard & Poor™s 500 Index futures fell 0.1 percent after the gauge came within three points of a record. Japan™s Topix index extended gains from a seven-year high, even as the yen maintained Thursday™s 1.1 percent surge. The Korean won and Malaysian ringgit added at least 0.3 percent. Gold climbed.

Global equities are rising a second week as the accord aimed at halting Ukraine™s 10-month conflict and optimism of a compromise on Greece soothes geopolitical concerns. Most industrial metals soared Thursday and oil rallied more than 4 percent. Australia™s central bank chief told lawmakers rate cuts may have lost some of the efficacy, after the country joined the global wave of monetary easing last week. The Bank of Japan is said to regard increasing stimulus as counterproductive.

The Bloomberg Commodity Index gained 1.4 percent on Thursday, its steepest one-day increase since Feb. 3.

Source : Bloomberg

Japan Stocks Fluctuate Near Seven-Year High as Yen Rises on BOJ

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Japanese stocks fluctuated, with the Topix index trading near a seven-year high, as the yen rose and investors weighed a report the central bank views further monetary easing as counterproductive for now.

The Topix index added 0.1 percent to 1,450.57 as of 9:06 a.m. in Tokyo, swinging from a loss of 0.1 percent. The measure is heading for a fourth straight weekly gain after it closed yesterday at the highest since December 2007. The Nikkei 225 Stock Average lost 0.3 percent to 17,923.93. The yen added 0.2 percent to 118.93 per dollar after strengthening 1.1 percent on Thursday, its steepest one-day jump since Dec. 16.

The yen rose after remarks by people familiar with central bankers™ talks indicated a possible shift in thinking among some BOJ officials after the yen™s 22 percent tumble since they began unprecedented easing almost two years ago.

Futures on the Standard & Poor™s 500 Index lost 0.1 percent after the underlying gauge rose 1 percent yesterday to close within three points of a record high as optimism over a Ukraine cease-fire agreement boosted risk appetite. Cisco Systems Inc. drove U.S. stock gains after it joined the 76 percent of S&P 500 members that have beat analysts™ earnings estimates this season.

Source : Bloomberg

S&P 500 Climbs to Within Three Points of Record as Dollar Slumps

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U.S. stocks jumped, pushing the Standard & Poor™s 500 Index to within three points of an all-time high as online travel firms jumped with Cisco Systems Inc. and optimism over the Ukraine cease-fire agreement boosted risk appetite. The dollar sank while Treasuries rallied with crude oil.

The S&P 500 rose 1 percent to 2,088.48 by 4 p.m. in New York, close to the 2,090.57 record reached Dec. 29. Cisco™s 9.4 percent surge on better-than-estimated earnings helped drive the Nasdaq Composite Index to an almost 15-year high, while Expedia Inc. and TripAdvisor Inc. soared at least 14 percent on deal news. The Bloomberg Dollar Spot Index slid the most since 2013 as the yen jumped, while Treasuries snapped a five-day drop. U.S. oil rallied as more crude producers announced cutbacks.

Technology companies including Apple Inc. have bolstered S&P 500 gains this year, with the benchmark U.S. gauge whipsawed by investors amid a wave of global central bank easing and geopolitical tension. The accord to end fighting in eastern Ukraine will come into force Feb. 15, Russian President Vladimir Putin told reporters in Minsk, Belarus, after talks with French, German and Ukrainian leaders. At a meeting in Brussels, last-minute questions from Greek officials snagged progress toward an agreement with the euro area and creditors.

Source : Bloomberg