• MTS Gold Morning News 20180514

    14 May 2018 | Gold News

 

• Spot gold was unchanged at $1,321 per ounce by 1:43 p.m. EDT (1743 GMT). During the session it touched its highest since April 25 at $1,325.96, nudging its 100-day moving average of $1,326. It was up 0.5 percent for the week so far.

U.S. gold futures for June delivery settled down $1.60, or 0.1 percent, at $1,320.70 per ounce.

• The dollar index hovered below a four-and-a-half month high of 93.416 hit earlier this week, after U.S. consumer prices rose less than expected in April, prompting traders to pare bets that higher inflation would lead to faster U.S. rate hikes.

• U.S. interest rates futures rose on Thursday even as a smaller-than-expected increase in the U.S. consumer price index in April did not alter traders' expectations the Federal Reserve will mostly likely raise key borrowing costs in June, but less sure of prospects for rate hikes in September and December.

• The Bank of England held interest rates steady on Thursday and said it wanted to be sure the economy was recovering from a slow start to the year before it raised orrowing costs again.

• Interest rates are unlikely to move dramatically in the coming years, European Central Bank Governing Council member Philip Lane said on Thursday.

• Bank of Japan Governor Haruhiko Kuroda said the central bank could debate conditions for exiting from ultra-easy policy if prospects for achieving its inflation target improve, reminding markets his radical stimulus programme won't last forever.

• "Geopolitical risks in the Middle East, a weaker dollar and softer Treasury yields are giving gold a temporary boost," said Walter Pehowich, executive vice president of investment services at Dillon Gage Metals.

• The dollar fell for a third day on Friday against a basket of currencies. While the 10-year U.S. Treasury yield rose slightly, it remained below 3 percent.

• Gold price consolidation above resistance at the 100-day moving average might be a catalyst for more gains, MKS PAMP trader Tim Brown said.

• Silver was up 0.3 percent at $16.72 an ounce, above its 100-day moving average and nearing its 200-day moving average to $16.84. It was at 2-1/2-week highs, set for a weekly gain of 1.3 percent.

• Platinum was down 0.4 percent at $920.49 per ounce, having hit its highest since April 25 at $929.10. It was poised for a nearly 2 percent weekly increase.

• Palladium declined 0.8 percent at $991 per ounce, but earlier hit $1,008.50, a 2-1/2-week high, closing the week more than 2 percent higher.


Reference: Reuters

Related
MTS Gold Co., Ltd.
40,42,44, Sapsin Road, Wang Burapha Phirom Sub-district, Pranakorn District, Bangkok, 10200
Tel. 0 2770 7777 Fax. 0 2623 9366 E-mail: support@mtsgoldgroup.com