Gold Futures Climb After U.S. Durable Goods Orders Decline

---

Gold futures climbed as a slump in orders for U.S. durable goods signaled that weaker foreign economies are weighing on American expansion, boosting demand for haven assets.

Demand for all durable goods -- items meant to last at least three years -- declined 3.4 percent, the worst performance since August, the Commerce Department said Tuesday. Slowing expansion may prompt the Federal Reserve to hold off on raising interest rates. Policy makers will meet this week.

The metal is up more than 9 percent this year as stagnating economies challenge policy makers to generate new ways to buoy growth. The euro traded near an 11-year low against the dollar after the European Central Bank last week expanded its bond-buying program to include government bonds, boosting demand for gold as an alternative to currencies that are being revalued.

Gold futures for April delivery rose 1 percent to settle at $1,292.90 an ounce at 1:55 p.m. on the Comex in New York. Prices climbed in the previous three weeks.

Silver futures for March delivery gained 0.6 percent to $18.084 an ounce on the Comex.

On the New York Mercantile Exchange, platinum futures for April delivery added 0.7 percent to $1,264.30 an ounce, while March palladium futures fell 0.1 percent to $780.75 an ounce.

Source : Bloomberg

Dollar Slides on Signs of Slowing Economic Growth; Ruble Gains

---

The dollar declined from the highest level on record after U.S. durable-goods orders unexpectedly decreased in December as Federal Reserve policy makers began a two-day meeting in Washington.

The U.S. currency fell against most major counterparts as home prices in 20 U.S. cities rose at a slower pace in the year ended in November, another report showed on Tuesday. The euro rose after a Swiss National Bank official said it remained ready to intervene in markets. Traders are betting on an October increase in interest rates by Fed Chair Janet Yellen and colleagues. Russia™s ruble rose from a record.

The Bloomberg Dollar Index, a gauge of the currency™s performance against 10 major peers, slid 0.5 percent to 1,155.20 at 1:26 p.m. New York time. It closed at a record 1,161.42 in New York on Jan. 26.

The dollar fell 1 percent to 1.1356 against the euro after rising to 1.1098 yesterday, the strongest since September 2003. It declined 0.4 percent to 117.96 yen. The shared currency appreciated 0.6 percent to 133.97 yen.

The euro rose 1 percent to 1.02548 francs after appreciating as much as 2.3 percent to 1.03826, the strongest level since the SNB lifted its currency cap on Jan. 15.

Source : Bloomberg

U.S. Shares Drop as Microsoft to Caterpillar Results Disappoint

---

U.S. shares tumbled as a drop in durable-goods orders and disappointing results from Caterpillar Inc. to Microsoft Corp. heightened concern about the economy™s strength.

Technology shares in the Standard & Poor™s 500 Index plunged 3.3 percent for the biggest drop since November 2011. Microsoft lost 9.3 percent, the most in 18 months, as software-license sales to businesses were below forecasts. Caterpillar plunged 7.2 percent after forecasting 2015 results that trailed estimates as plunging oil prices signal lower demand from energy companies. Procter & Gamble Co. slid 3.5 percent as a surging U.S. dollar cut into its earnings.

The Standard & Poor™s 500 Index slipped 1.3 percent to 2,029.61 at 4 p.m. in New York, below its average price for the past 50 days. The Dow Jones Industrial Average declined 291.30 points, or 1.7 percent, to 17,387.40, after losing almost 400 points earlier in the day.

Trading in S&P 500 companies was 15 percent above the 30-day average as exchanges opened for a full day despite a snow storm that shut down travel around New York City overnight and during part of the morning.

Source : Bloomberg

Dow Drops Most Since October as Microsoft to Caterpillar Plunge

---

U.S. stocks tumbled, with the Dow Jones Industrial Average poised for its worst day since October, as a drop in durable-goods orders and disappointing results from Caterpillar Inc. to Microsoft Corp. heightened concern about the economy™s strength.

Technology shares in the Standard & Poor™s 500 Index had the biggest drop in more than three year. Microsoft lost 9 percent as software-license sales to businesses were below forecasts. Caterpillar plunged 7.5 percent after forecasting 2015 results that trailed estimates as plunging oil prices signal lower demand from energy companies. DuPont Co. dropped 2.8 percent as a stronger dollar cuts into the chemical maker™s profit. Procter & Gamble Co. and United Technologies Corp. declined at least 1.3 percent after saying the surging greenback will lower full-year earnings.

The Standard & Poor™s 500 Index slipped 1.4 percent to 2,027.78 at 12:15 p.m. in New York, below its average price for the past 50 days. The Dow declined 347.17 points, or 2 percent, to 17,331.53, poised for the biggest drop on a closing basis since October.

Trading in S&P 500 companies was 23 percent above the 30-day average for this time of the day as exchanges opened for a full day despite a snow storm that shut down travel around New York City overnight and during part of the morning.

Source : Bloomberg

European Stocks Fall as Siemens Disappoints, Greek Banks Slide

---

European stocks declined from a seven-year high, snapping their longest winning streak since April, as Siemens AG and Royal Philips NV posted disappointing earnings, and Greek stocks tumbled.

Siemens slid 3 percent, contributing the most to a drop in a gauge of industrial companies, after Europe™s largest engineering firm reported a decline in first-quarter profit. Philips lost 5.9 percent after saying it is behind on its 2016 financial targets. Greek banks dragged a gauge of lenders down.

The Stoxx Europe 600 Index slipped 1 percent to 368.7 at the close of trading, after earlier falling as much as 1.4 percent. The index on Monday capped eight days of gains amid optimism about European Central Bank stimulus, while Greek shares slid as opposition party Syriza won the election on Sunday. The Swiss Market Index rose 1.3 percent today, its third day of gains, as Swiss National Bank Vice President Jean-Pierre Danthine said it is willing to intervene in currency markets even after giving up its cap on the franc.

The ASE Index fell for a second day, erasing its Friday rally, as new Prime Minister Alexis Tsipras took office promising to end austerity. The gauge dropped 3.7 percent, with Eurobank Ergasias SA, National Bank of Greece SA, and Piraeus Bank SA plunging at least 12 percent to record lows.

Source : Bloomberg