Gold Holds Loss Before Fed Reserve Minutes as Dollar Strengthens

---

Gold held a drop from the highest level in seven weeks as the dollar strengthened before the Federal Reserve publishes minutes of its March meeting.

Bullion for immediate delivery traded at $1,210.56 an ounce at 9:16 a.m. in Singapore from $1,209.22 on Tuesday, when prices climbed to $1,225, the highest since Feb. 17, according to Bloomberg generic pricing. Gold in Shanghai retreated.

Job openings in the U.S. climbed to a 14-year high, indicating companies are optimistic about the prospects for sales and the U.S. economy, Labor Department data showed Tuesday. A report on Friday showed that payrolls climbed by 126,000 in March following a 264,000 gain a month earlier. Higher interest rates cut bullion’s allure because the metal generally offers returns only through price gains.

Gold for June delivery lost 0.1 percent to $1,209.60 an ounce on the Comex. Bullion of 99.99 percent purity declined 0.2 percent to 241.05 yuan a gram ($1,209.72 an ounce) on the Shanghai Gold Exchange.

Silver for immediate delivery was at $16.8603 an ounce from $16.8575 on April 7. Platinum fell 0.1 percent to $1,171.50 an ounce and palladium dropped 0.2 percent to $768.70 an ounce.

Source : Bloomberg

Dollar Rally Revives as Investors Look Beyond Dip in U.S. Jobs

---

The dollar is showing signs of revitalization as traders look through last week’s weaker-than-forecast U.S. jobs report and rebuild positions.

A gauge of the greenback is on track for its first weekly gain since dropping from a more-than-decade high in mid-March. The currency slumped the most in almost two weeks on Friday after data showed American employers added the fewest jobs since December 2013 last month. The yen was near the weakest in more than two weeks against the dollar as the Bank of Japan concludes a two-day policy meeting on Wednesday, before the Federal Reserve publishes minutes of its March gathering.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, was at 1,192.08 as of 9:41 a.m. in Tokyo from 1,193.11 in New York, when it completed a two-day, 0.9 percent advance.

The U.S. currency was little changed at 120.21 yen after touching 120.45 Tuesday, the most since March 20. It slipped 0.2 percent to $1.0833 per euro, following a 1 percent climb the previous day.

Source : Bloomberg

China Stock Futures Rise as Shanghai Composite Approaches 4,000

---

China’s stock-index futures rose, signaling further gains for the nation’s equities as the Shanghai Composite Index approached the 4,000 level for the first time since 2008.

Futures on the CSI 300 Index expiring in April, the most active contract, added 0.2 percent as of 9:18 a.m. local time. The Shanghai Composite surged 2.5 percent to 3,961.38 on Tuesday. The CSI 300 Index rose 2.2 percent. The Bloomberg China-US Equity Index added 0.7 percent in New York. Hong Kong’s stock market resumes trading today after a three-day holiday.

The Shanghai gauge has jumped 92 percent over the past year, the best performing major global index among 93 measures tracked by Bloomberg, amid speculation the People’s Bank of China will further ease monetary policy after cutting interest rates twice since November and lowering reserve-requirement ratios of lenders once.

China will start to release March economic data on April 10, starting with inflation. Consumer prices probably rose 1.3 percent, slowing from a 1.4 percent gain in February, while producer prices may have declined 4.8 percent, unchanged from the previous month, according to the median estimate of a Bloomberg survey.

Source : Bloomberg

Asian Stocks Rise for Fifth Day as Material Shares Lead Advance

---

Asian stocks rose for a fifth day as material and health-care companies advanced and investors await a Bank of Japan policy decision and the release of Federal Reserve meeting minutes.

The MSCI Asia Pacific Index added 0.1 percent to 149.21 as of 9:03 a.m. in Tokyo. The BOJ ends a two-day meeting today, with all 34 economists surveyed by Bloomberg predicting the Japanese central bank will maintain record stimulus. Investors are waiting for Fed minutes for clues on when policy makers will increase U.S. interest rates after payrolls data added to signs of a weak first-quarter growth in the world’s biggest economy.

The BOJ will probably expand stimulus by the end of October, according to 22 of 34 economists surveyed by Bloomberg. The BOJ is among a wave of central banks easing policy to stave off deflation and ignite growth. By contrast, the Fed has ended its bond-buying program and is pondering its first rate increase since 2006.

The world economy’s growth potential won’t soon return to levels seen before 2008 financial crisis as business investment slumps, raising the urgency for officials to find ways to stimulate demand, the International Monetary Fund said in its World Economic Outlook released Tuesday.

Source : Bloomberg

Japanese Stocks Advance as Weaker Yen Buoys Exporters Before BOJ

---

Japanese stocks rose for a second day as a weaker yen buoyed exporters and investors await a Bank of Japan monetary policy decision.

The Topix index climbed 0.5 percent to 1,587.04 as of 9:01 a.m. in Tokyo, with all but two of its 33 industry groups rising. The Nikkei 225 Stock Average added 0.5 percent to 19,730.45. The yen traded at 120.29 per dollar after weakening the past two days.

All 34 economists in a Bloomberg poll predict the BOJ will maintain record stimulus on Wednesday. Investors also are awaiting Federal Reserve minutes for clues on when U.S. interest rates will increase.

The BOJ remains far from achieving its inflation target, with its preferred consumer price gauge flat in February from a year earlier. At the January meeting, Governor Haruhiko Kuroda extended by a year to March 2016 .

Source : Bloomberg