Gold futures are gearing towards its first monthly loss this year as clues of a US recovery supported the case for the Federal Reserve to push through with cutting stimulus. Palladium was slated to ascend for a second month.
Bullion to be delivered immediately settled at $1,297.30 an ounce at 8:53 a.m. in Singapore, based on Bloomberg generic pricing. Gold closed at $1,295.23 on March 28 when prices dropped to $1,285.82, the lowest since February 12. The metal climbed 8% this year, touching a six-month peak on March 17, as Russia’s annexation of Crimea prodded haven demand.
Gold declined 2.2% this month as US economic figures including durable goods orders outmatched estimates, while Fed Chair Janet Yellen said the central bank’s debt-buying program might finish this year with interest rates beginning to escalate in 2015. The Fed trimmed monthly asset buying by $10 billion in its last three meetings.
Gold to be delivered in June accelerated 0.2% to $1,297.20 per ounce on the Comex in New York, down 1.9% in March. Holdings in gold-supported exchange-traded products were poised for the first back-to-back monthly proliferation following it contracted for 13 months through January.
Palladium to be delivered immediately tumbled 0.1% to $774.25 per ounce, reducing a 4.2% acceleration this month. The metal is up 8.1% this year on worries that more punishments by the US and the European Union versus Russia and a strike at South African mines will cut down supplies. The countries are the biggest suppliers of the metal.
Spot silver increased 0.3% to $19.8935 per ounce. While the metal is down 6.3% in March, it is 2.2% higher this year. Platinum rose 0.6% to $1,417.63 per ounce, decreasing the first monthly dive in four
months.
The material has been provided by InstaForex Company – www.instaforex.com
Gold futures are gearing towards its first monthly loss this year as clues of a US recovery supported the case for the Federal Reserve to push through with cutting stimulus. Palladium was slated to ascend for a second month.
Bullion to be delivered immediately settled at $1,297.30 an ounce at 8:53 a.m. in Singapore, based on Bloomberg generic pricing. Gold closed at $1,295.23 on March 28 when prices dropped to $1,285.82, the lowest since February 12. The metal climbed 8% this year, touching a six-month peak on March 17, as Russia’s annexation of Crimea prodded haven demand.
Gold declined 2.2% this month as US economic figures including durable goods orders outmatched estimates, while Fed Chair Janet Yellen said the central bank’s debt-buying program might finish this year with interest rates beginning to escalate in 2015. The Fed trimmed monthly asset buying by $10 billion in its last three meetings.
Gold to be delivered in June accelerated 0.2% to $1,297.20 per ounce on the Comex in New York, down 1.9% in March. Holdings in gold-supported exchange-traded products were poised for the first back-to-back monthly proliferation following it contracted for 13 months through January.
Palladium to be delivered immediately tumbled 0.1% to $774.25 per ounce, reducing a 4.2% acceleration this month. The metal is up 8.1% this year on worries that more punishments by the US and the European Union versus Russia and a strike at South African mines will cut down supplies. The countries are the biggest suppliers of the metal.
Spot silver increased 0.3% to $19.8935 per ounce. While the metal is down 6.3% in March, it is 2.2% higher this year. Platinum rose 0.6% to $1,417.63 per ounce, decreasing the first monthly dive in four
months.
The material has been provided by InstaForex Company – www.instaforex.com
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