Gold Futures Drop in New York as Dollar Touches Five-Year High

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Gold futures fell for the fourth time in five sessions as the dollar touched a five-year high, damping investor demand for the metal as a store of value.

The Bloomberg Dollar Spot Index rose to 1,133.26, the highest since 2009, amid signs that the U.S. economy is improving. Holdings in exchange-traded funds backed by bullion fell 0.6 percent last week, extending a drop to the lowest since 2009. Futures trading was 45 percent below the 100-day average for this time of day, data compiled by Bloomberg show.

Gold futures for February delivery slipped 1.1 percent to settle at $1,181.90 an ounce at 1:46 p.m. on the Comex in New York. The price has fallen 1.7 percent in 2014, after tumbling 28 percent last year.

Silver futures for March delivery retreated 2.3 percent to $15.779 an ounce on the Comex, the most in almost two weeks. The metal is down 19 percent for the year.

Platinum futures for April delivery fell 1.4 percent to $1,202.70 an ounce on the New York Mercantile Exchange. Palladium futures for March delivery dropped 0.8 percent to $812 an ounce.          

Source : Bloomberg

Russian Economy Shows Gesture First Recession

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The Russian economy contracted by 0.5% in November, the first decline in GDP since October 2009.

The Russian government forecast a decline of 0.8% of GDP next year, compared with 0.6% GDP growth in 2014 as a whole.

Ruble fell to a level of 57 to the US dollar on Monday, a decline of over 6% after it had increased last week.

The Russian economy is highly dependent on energy exports hit by the drop in oil prices and a number of sanctions western countries.

Sanctions imposed because of Russian support for separatists in eastern Ukraine, targeting the oil and gas industry in addition to a number of banks, gun makers and wealthy elite group near predictably President Vladimir Putin.

Russia blocked the majority of food imports from the West to reply to this policy. Ruble lost half its value against the dollar this year.

Ministry of economic development of Russia claimed the manufacturing, construction, agriculture and services contracted in November. While mining, energy and retail trade continued to show growth.

Source: BBC

Saham AS Lanjutkan Reli Pekan Lalu ditopang Penguatan Saham Energi

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Saham AS naik mengirim indeks Standard & Poor 500 bersiap menuju kenaikan tahunan ketiga berturut-turut seiring indeks ekuitas naik pekan lalu.

Indeks Standard & Poor 500 naik sebesar 0,2 persen ke level 2,092.95 pukul 11:54 siang di New York. Indeks Dow melonjak 7.26 poin, atau kurang dari 0,1 persen, ke level 18,060.97. Indeks Russell 2000 menguat sebesar 0,3 persen. Volume perdagangan saham pada S&P 500 sebesar 36 persen di bawah moving average 30-hari untuk hari ini. Volume untuk bursa AS pada 26 Desember merupakan yang terendah tahun ini untuk sehari penuh perdagangan.

Ekuitas mendekati level rekor tertingginya pada akhir tahun, didukung oleh ekspansi tercepat perekonomian Amerika dalam lebih dari satu dekade terakhir. Janji Federal Reserve pada 17 Desember lalu untuk bersabar dalam menaikkan suku bunga membantu indeks S&P 500 sepenuhnya menutup kerugian sebesar 5 persen pada semester pertama bulan ini. (izr)

Sumber: Bloomberg

Gold Declines With Silver as Dollar Strength Curbs Demand

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Gold fell on concern gains last week were exaggerated amid prospects for a stronger dollar and declining investor demand.

The metal rose 1.9 percent on Dec. 26, the biggest gain in more than two weeks, on speculation that China will take more measures to bolster the economy. Holdings in SPDR Gold Trust, the largest exchange-traded product backed by the metal, have dropped to a six-year low and the Bloomberg Dollar Spot Index is near the highest level in five years.

Gold for February delivery retreated 0.3 percent to $1,191.90 an ounce at 7:14 a.m. on the Comex in New York. The metal is headed for a second quarterly loss. Gold for immediate delivery fell 0.3 percent to $1,192.25 an ounce in London, according to Bloomberg generic pricing.

Silver for March delivery fell 0.5 percent to $16.07 an ounce in New York. Platinum for April delivery dropped 0.6 percent to $1,212.90 an ounce, while palladium for March delivery declined 0.3 percent to $815.90 an ounce.

Source: Bloomberg

Europe Stocks Little Changed as Greece’s ASE Declines After Vote

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European stocks were little changed, while Greece™s ASE Index fell as the nation faces early elections after Prime Minister Antonis Samaras failed a third time to get enough backing for his presidential candidate.

The Stoxx Europe 600 Index gained less than 0.1 percent to 344.06 at 4:30 p.m. in London, after falling as much as 0.8 percent. The Greek gauge slid 3.9 percent and as much as 11 percent, the most among 18 western-European markets. The retreat triggered a drop in benchmark equity indexes from Italy and Spain.

The Stoxx 600 is down 1 percent this month, on pace for its first December decline since 2008, while the ASE closed at its lowest level since July 2013.

Short bets on an exchange-traded fund tracking Greek shares climbed this month to the highest level since May 2012, just before the benchmark ASE fell to a low in the wake of the nation™s debt restructuring.

Source : Bloomberg