Gold Futures Tumble to Six-Week Low on Signs China’s Demand Ebbs

---

Gold futures fell to a six-week low approaching $1,200 an ounce on speculation that Chinese demand will fall during the Lunar New Year holiday. Silver tumbled, and platinum dropped to the cheapest in more than five years.

Volume in the Shanghai Gold Exchange™s benchmark spot contract dropped to the lowest in a year. Markets in China, the world™s second-biggest buyer, will be closed for five sessions starting Wednesday. Investors assessed the risks from a breakdown in talks between Greece and its creditors as U.S. equities traded close to a record high.

Gold futures for April delivery fell 1.5 percent to settle at $1,208.60 at 1:54 p.m. on the Comex in New York. Earlier, the price touched $1,203.30, the lowest for a most-active contract since Jan. 6. Floor trading was closed on Monday for the U.S. Presidents™ Day holiday.

Source: Bloomberg

Gold Falls With Silver on Concern Chinese Buying Will Decline

---

Gold and silver led losses in precious metals on speculation Chinese demand will fall during the Lunar New Year holiday.

Volumes for the Shanghai Gold Exchange benchmark spot contract dropped about 75 percent from Mondays level to the lowest in more than a year, data from the bourse show. China, the second-biggest bullion buyer after India, will close markets for five days starting Wednesday.

Gold for April delivery lost as much as 0.7 percent to $1,218.30 an ounce and traded at $1,220.10 by 8:12 a.m. on the Comex in New York. Silver for March delivery fell as much as 3.7 percent, the most this month, to $16.655 an ounce.

Bullion has risen 3.1 percent in 2015 as investors sought a haven from slowing global economic growth and political turmoil over Greeces bailout. The country is moving closer to a euro exit after the currency region™s finance ministers said there will be no more talks on financial support unless the Greek government requests an extension of its existing bailout program.

Source: Bloomberg

U.S. Stocks Climb Amid Optimism on Greece as Oil Prices Rebound

---

The Standard & Poor™s 500 Index reached a record for a second day on speculation that the Greek debt impasse is easing while oil prices erased earlier declines.

The S&P 500 climbed 0.1 percent to 2,100.00 at 4 p.m. in New York. U.S. markets were closed for a holiday on Monday.

Greece™s government may request an extension of its loan agreement for six months, according to a person familiar with the matter, a step that could ease a standoff with creditors over the country™s future financing.

Discussions aimed at finding common ground between Greece and its creditors ended on Monday without breaking an impasse. With no deal, the government could run out of money by March and be forced to choose between breaking election promises or abandoning the euro.

The S&P 500 rose to an all-time high last week as technology shares rallied and oil rebounded to end stocks™ longest dip since 2013. Signs of easing tension between Greece and European leaders also helped push U.S. equities higher.

Source : Bloomberg

U.S. Stocks Fluctuate Amid Greek Impasse After S&P 500 Record

---

U.S. stocks fluctuated, after the Standard & Poor™s 500 Index reached a record last week, as investors weighed the risks of a Greece debt impasse while a drop in oil was offset by a rise in health-care shares.

The S&P 500 declined 0.1 percent to 2,094.82 at 12:14 p.m. in New York. The Dow Jones Industrial Average lost 20.39 points, or 0.1 percent, to 17,998.96.52. The Russell 2000 Index was little changed after reaching a record Friday. U.S. markets were closed for a holiday on Monday.

Discussions aimed at finding common ground between Greece and its creditors ended on Monday without breaking an impasse. With no deal, the government could run out of money by March and be forced to choose between breaking election promises or abandoning the euro.

The S&P 500 rose to an all-time high last week as technology shares rallied and oil rebounded to end stocks™ longest dip since 2013. Signs of easing tension between Greece and European leaders also helped push U.S. equities higher.

Source : Bloomberg

European Stocks Little Changed as Greek Shares Fall Amid Talks

---

European stocks were little changed as a rise in makers of food and drinks offset a drop in Greek equities.

The Stoxx Europe 600 Index added 0.1 percent to 377.02 at the close of trading, after declining as much as 0.7 percent. Diageo Plc and Anheuser-Busch InBev NV rose more than 1.5 percent, pushing a gauge of food and beverage shares higher.

The U.K.™s FTSE 100 Index climbed 0.6 percent to the highest level since December 1999, buoyed by an increase in Diageo and gains of more than 1.9 percent in cigarette makers British American Tobacco Plc and Imperial Tobacco Group Plc.

Greece™s ASE Index dropped 2.5 percent, paring losses of as much as 4.7 percent. Euro-area finance ministers said there will be no more talks on financial support unless the Greek government requests an extension of its existing bailout program. Talks ended abruptly on Monday, when Greece refused a euro-area proposal that it stick to the terms of its current bailout program.

The ASE declined the most among 18 western-European markets. Germany™s DAX Index retreated 0.3 percent. A report showed investor confidence in euro area™s biggest economy rose less than forecast.

The Stoxx 600 dropped 0.1 percent on Monday amid Greek talks after closing on Friday at a seven-year high. The benchmark measure has advanced 10 percent in 2015 as the European Central Bank unveiled quantitative easing.

Source: Bloomberg