Monday, 12 September 2016

Gold Fell Slightly Early Monday

Sept 12 Gold fell slightly early Monday as hawkish comments from U.S. Federal Reserve officials late last week raised bets on a rate hike as early as September.  
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  • Spot gold had slipped nearly 0.2 percent to $1,325.60 an ounce by 0120 GMT.  
  • U.S. gold futures dropped 0.3 percent to $1,329 an ounce.
  • The dollar index, which measures the greenback against a basket of currencies, was down 0.1 percent at 95.219.  
  • A spate of Fed speakers kept hopes alive for a September rate hike, despite some recently disappointing economic data including only a modest rise in U.S. nonfarm payrolls.  
  • After Boston Federal Reserve President Eric Rosengren spoke on Friday, odds on a rate hike in September rose to 30 percent probability from 24 percent before his comments.  
  • SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 1.12 percent to 939.94 tonnes on Friday. 

Asian shares slipped on Monday with investors rattled by rising bond yields and talk the Fed might be serious about lifting U.S. interest rates as early as next week.

1 comment:

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