Gold Holds Below $1,300 as U.S. Economy Weighed Against Ukraine

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Gold held below $1,300 an ounce as investors assessed the health of the U.S. economy and the impact on monetary stimulus against tension in Ukraine.

Bullion for immediate delivery rose and fell at least 0.3 percent before trading at $1,295.99 an ounce at 2:43 p.m. in Singapore from $1,293.52 on May 16, according to Bloomberg generic pricing. Last week, the metal completed the first weekly gain in three as rebels fought government forces in Ukraine.

Gold tumbled 28 percent in 2013 to end a 12-year rally on expectations the Federal Reserve would cut asset purchases as the economy recovers. The Fed has announced reductions at each of its past four meetings. Data this week may show more Americans applied for jobless benefits after last week��s report showed unemployment claims fell to the lowest in seven years.

Gold has advanced 7.9 percent this year in part as increasing tension in Ukraine fueled haven demand. In Vietnam, China is evacuating its citizens as Vietnamese authorities thwarted anti-China protests after violent demonstrations resulted in two deaths and damage at factories. The violence was spurred by anger over a Chinese oil rig in disputed waters.

Gold for June delivery advanced 0.2 percent to $1,296.30 an ounce on the Comex. Assets in the SPDR Gold Trust, the largest bullion-backed exchange-traded product, were at 781.98 metric tons on May 16 after dropping to 780.46 tons on May 12, the lowest since January 2009.

Source : Bloomberg

Europe Stock-Index Futures Are Little Changed; Ryanair May Move

European stock-index futures were little changed after the region’s equities climbed for a fifth week. U.S. stock-index futures were also little changed, while Asian shares fell.

Deutsche Bank AG may move after Germany’s biggest bank sold about 60 million shares to the Qatari royal family as it announced plans to raise 8 billion euros ($11 billion) in its second-biggest capital increase. AstraZeneca Plc may be active after Pfizer Inc. raised its offer to buy the U.K. drugmaker. Ryanair Holdings Plc may move after the discount carrier reported its first annual profit drop in five years.

Futures on the Euro Stoxx 50 Index expiring in June slipped less than 0.1 percent to 3,150 at 7:04 a.m. in London. Contracts on the U.K.’s FTSE 100 Index gained less than 0.1 percent, while Standard & Poor’s 500 Index futures lost 0.1 percent. The MSCI Asia Pacific Index dropped 0.4 percent.

The Stoxx Europe 600 Index added 0.1 percent last week as euro-area economic growth missed estimates and investors watched mixed earnings reports. The stocks gauge climbed for five straight weeks, the longest streak since November 2013, and reached a six-year high on May 13.

Deutsche Bank may be active. Paramount Holdings Services Ltd., an investment vehicle of Qatar, purchased 1.75 billion euros of shares at 29.20 euros each, the lender said in a statement last night. Deutsche Bank will raise an additional 6.3 billion euros from a rights offer in June, it said.

Source : Bloomberg

Emas Bertahan di Bawah US$ 1300 di Asia

Emas bertahan di bawah US$ 1.300 per ons karena investor menilai kesehatan perekonomian AS dan dampak dari stimulus moneter terhadap ketegangan di Ukraina.

Bullion untuk pengiriman segera diperdagangkan pada US$ 1,294.06 per ons pada 9:42 di Singapura dari US$ 1,293.52 pada tanggal 16 Mei yang lalu, menurut Bloomberg generic pricing. Pada pekan lalu, logam menyelesaikan kenaikan mingguan pertamanya dalam tiga setelah separatis berjuang melawan pasukan pemerintah di Ukraina.

Emas anjlok 28 persen pada 2013 untuk mengakhiri reli 12 tahun terhadap ekspektasi bahwa Federal Reserve akan memangkas pembelian aset karena ekonomi AS telah pulih. The Fed telah mengumumkan pengurangan pada masing-masing dari empat pertemuan terakhirnya. Data minggu ini mungkin menunjukkan lebih banyak orang Amerika mengajukan tunjangan pengangguran setelah laporan pekan lalu menunjukkan klaim pengangguran turun ke level terendah dalam tujuh tahun terakhir.

Emas telah naik 7,7 persen dalam tahun ini sebagian akibat meningkatnya ketegangan di Ukraina yang memicu permintaan safe haven. Di Vietnam, China mengevakuasi warganya pasca otoritas Vietnam dihalangi oleh protes anti pemerintah China setelah kekerasan demonstrasi mengakibatkan dua orang meninggal dan kerusakan di pabrik-pabrik. Kekerasan dipicu oleh kemarahan atas rig minyak China di perairan yang disengketakan.

Emas untuk pengiriman Juni diperdagangkan pada US$ 1,292.20 per ons di Comex New York dari US$ 1,293.40 pada 16 Mei yang lalu. Aset di SPDR Gold Trust berada di level 781,98 metrik ton pada 16 Mei setelah turun ke level 780,46 ton pada tanggal 12 Mei, yang merupakan terendah sejak Januari 2009.

Perak untuk pengiriman segera turun 0,3 persen menjadi US$ 19,323 per ons.(frk)

Sumber Bloomberg

 

Yen Holds Near Two-Month High Versus Dollar Amid Risk Aversion

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Japan��s currency was near a two-month high versus the dollar as fighting in Ukraine and anti-China violence in Vietnam prompted demand for safety.


The yen held a three-day gain as the yield premium 10-year U.S. Treasuries offer over similar-maturity Japanese government bonds was near a seven-month low. Federal Reserve Chair Janet Yellen speaks this week and a Labor Department report on May 22 is forecast to show the number of Americans applying for jobless benefits increased. The euro traded near more-than-two-month lows versus the yen and the greenback as speculators turned bearish on the 18-nation currency.


The yen traded at 101.58 per dollar at 11:53 a.m. in Tokyo from 101.50 at the end of last week, having gained 0.7 percent in the previous three sessions. It touched 101.32 on May 15, the strongest since March 19. Japan��s currency fetched 139.23 per euro from 139 on May 16, when it reached 138.78, the strongest since Feb. 12. The euro was little changed at $1.3707 after touching $1.3648 on May 15, the least since Feb. 27.


Source : Bloomberg