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STRIVE FOR SOLID FUTURES

Thursday, February 19, 2015

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

Posted by PT KONTAK PERKASA FUTURES BALIKPAPAN On 4:17 PM No comments


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

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