The
metal’s 30-day historical volatility dropped to the lowest since early
November on Thursday, according to data compiled by Bloomberg. Even
Mario Draghi’s plan for more bond buying that sent the euro to an
11-year low against the dollar wasn’t enough to spur some movement for
gold, with futures trading little changed for most of the day in New
York.
Prices
are up 1 percent in 2015, paring gains of as much as 10 percent through
mid-January. Gold fell 1.5 percent in 2014, and in the past year the
metal is the least-volatile of the 22 components tracked by the
Bloomberg Commodity Index. The U.S. Labor Department will release jobs
data on March 6 that may show more improvement for the economy, allowing
the Federal Reserve to raise interest rates sooner.
Gold
futures for April delivery slipped 0.4 percent to settle at $1,196.20
at 1:46 p.m. on the Comex in New York. Trading was about 11 percent
lower than the 100-day average for the time of day, data compiled by
Bloomberg show.
Source : Bloomberg
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