Breaking News

Gold heads for biggest monthly fall in 2-1\2 years.

News Date: 30/11/2015 01:29:39
Update Date: 30/11/2015 06:23:58
 

Gold futures for February fell to $1,055.60 an ounce, near a six-year low, and set for a monthly loss of 7.54% for November, the biggest since June 2013. Gold prices have been under pressure from a rising dollar and lower demand from China and India, which accounts for about half the global demand for the precious metal. Silver futures for December inched down a cent, or 0.09% to $13.99 an ounce.

 

Asian shares fell on China worries, and as China's index CSI300 for biggest listed companies in Shanghai and Shenzhen extended its losses, sliding 1.65% for the day, in line for a monthly loss of 1.0% for November. Japan's Nikkei floundered 0.66%, but heading for a monthly gain of 3.52%. Australia's S&P\ASX 200 gave up 0.69%, set for a monthly loss of 1.39%. Korea's KOSPI dove 1.57%, heading for a monthly loss of 1.63%. India's Nifty was more muted, slipping just 0.10%, but set for a bigger monthly loss of 1.60%.

 

Dollar held on to its gains, with its index on the verge of breaking a 12-year high touched in March; it last traded at 100.20, up 0.14% for the day. Dollar rose 0.09% against Euro to 1.0582, near a seven-month high. It hit its highest since April against sterling at 1.0515 before steadying to 1.5025 with a 0.03% profit.

 

Japan's retail sales rose 1.8% y\y in October, while factory orders rose 1.4% m\m, hinting at a recovery in fourth quarter for the economy, after contracting for the last two. Yen didn't show excitement for the news however, inching 0.04% up against dollar to 122.75. It gained 0.10% against Euro to 129.90, while advancing 0.12% against sterling to 184.45.

 

Oil prices were mixed, with Brent futures for January down 14 cents, or 0.27% to $44.77 a barrel. U.S. futures rose however, gaining 4 cents, or 0.11% to $41.75 a barrel. Copper futures fell $0.008, or 0.39% to $2.055 a pound.

 

Investors will be waiting for a batch of data today; from Germany, retail sales for October are forecast to have grown 0.3% m\m, while German preliminary CPI for November is forecast to have risen 0.1% m\m. The ECB looks set to expand its stimulus or\and cut interest rates in its Thursday meeting no matter what, so Euro is expected to remain under pressure.

 

From U.S., pending home sales are forecast to have grown 1.6% m\m in October. Housing is a crucial part of the economy, the higher the growth of the sector, the better for the dollar.  

 

Latest news

Crude oil futures rose during the Asian session today, Thursday, this rise came after a decline : after the US central bank raised interest rates to control inflation, which directly affected the dem
09-2022 22 02:20:30

Yesterday, Wall Street closed lower , following the US central bank’s meeting, which is expected to raise interest rates significantly. According to the data, the Standard & Poor's 500
09-2022 21 01:33:42

Today gold futures and crude oil futures rose during the Asian session. As the gold futures contract was traded in December at $1,685.30 an ounce, its price increased by 0.42%, after it had previous
09-2022 20 02:56:35

The dollar fell by about 1% from its highest level in 20 years, this comes when investors assessed some of the risks of large increases in interest rates expected by major central banks during this w
09-2022 19 01:28:27

According to the New York Mercantile Exchange, futures contracts for gold fell, as they were traded in December at $1642.4 an ounce, it decreased by 0.29%. Gold has already traded lower session at $
09-2022 16 02:02:56

More News

Logs

Advertisements