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☆ Gold firms as dollar slips; Fed's rate-hike bets cap advance
▼ + stars: | 2022-12-20 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

A weaker dollar makes gold more attractive to overseas buyers. However, "the prospects of a higher terminal Fed rate could prevent gold enjoying a runaway rally next year". Last week, Fed Chair Jerome Powell said the U.S. central bank will deliver more rate hikes next year to curb inflation. Although gold is considered an inflation hedge, higher rates increase the opportunity cost of holding the asset. European Central Bank Vice-President Luis de Guindos signalled the bank was determined to keep raising interest rates.

☆ Gold slips as dollar firms to kick start big data week
▼ + stars: | 2022-12-12 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices fell on Monday, dragged down by a firmer dollar, while investors positioned for key U.S. inflation data and the Federal Reserve's rate-hike verdict due this week. Investors will keep a close eye on Tuesday's U.S. Consumer Price Index (CPI) data and Fed's final meeting of 2022 scheduled on Dec. 13-14. Additionally, the European Central Bank (ECB) and the Bank of England (BoE) are also set to announce rate hikes this week, as policymakers continue their battle against inflation. Spot silver lost 0.8% to $23.27, platinum fell 0.5% to $1,016.88 and palladium ticked 0.6% lower to $1,938.33.

☆ Dollar kept aloft by higher Fed rates bets, RBA rate hike lifts Aussie
▼ + stars: | 2022-12-06 | by ( Joice Alves | ) www.reuters.com time to read: +2 min

The Australian dollar perked up from near one-week lows after the Reserve Bank of Australia (RBA) raised rates for the eighth time in as many months. After recording its biggest rally in two weeks on Monday, the U.S. dollar index , which measures the currency against six major peers, was 0.1% lower at 105.05 at 1200 GMT. It later reversed course after data showing U.S. services industry activity unexpectedly picked up in November, with employment rebounding. Traders currently expect a half-point hike to a 4.25-4.5% policy band and a terminal rate of just above 5% in May. European Central Bank policymaker Constantinos Herodotou said on Tuesday interest rates will go up again but are now "very near" their neutral level.

The Australian dollar perked up from near one-week lows after the Reserve Bank of Australia (RBA) raised rates for the eighth time in as many months. The U.S. dollar index , which measures the currency against six major peers, was at 105.24, steady after Monday's 0.7% rally, its biggest since Nov. 21. It later reversed course after data showing U.S. services industry activity unexpectedly picked up in November, with employment rebounding. Traders currently expect a half-point hike to a 4.25-4.5% policy band and a terminal rate of just above 5% in May. Reporting by Joice Alves and Kevin Buckland; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar holds firm on hawkish Fed bets, Aussie tad higher after RBA
▼ + stars: | 2022-12-06 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

It had dipped to 104.1 for the first time since June 28 as traders continued to rein in bets of aggressive Fed tightening. "The dollar really kicked butt across the board," said Bart Wakabayashi, branch manager at State Street in Tokyo. Investors had been on watch for signs of a pause in tightening after inflation unexpectedly cooled last month. "And with the RBA expecting inflation to continue higher and household spending remaining strong as ever, then the RBA may well hike by another 25 bps in February and March before reassessing." In recent days though, RBA policy has taken a back seat to optimism about an easing of strangling COVID-19 restrictions in China, a top trading partner.

☆ Asia-Pacific markets fall after Wall Street slips; Australia's rate decision ahead
▼ + stars: | 2022-12-06 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

Australia's central bank is expected to raise its cash rate by 25 basis points to 3.1% on Tuesday, according to economists polled by Reuters. That would be the Reserve Bank of Australia's eighth hike this year, and the third consecutive hike of 25 basis points since October. In a statement following its November meeting, the RBA said "the full effect" of the series of cash rate hikes lie ahead. Meanwhile, Matt Simpson, senior market analyst at City Index, said there's potential for a pause in rate hikes further ahead. "Some measures of inflation expectations are moving lower, and the monthly inflation print suggests inflation has peaked."

☆ Gold hits 5-month peak as dollar dips on China reopening hopes
▼ + stars: | 2022-12-05 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies Dollar index down 0.2%, hovers near 5-month lowLondon body creates database of Russian gold barsDec 5 (Reuters) - Gold prices rose to a five-month high on Monday, as the U.S. dollar weakened slightly after more Chinese cities relaxed COVID-19 restrictions over the weekend. The dollar index was down 0.2%, hovering near five-month lows. Lower interest rates tend to be beneficial for gold as it reduces the opportunity cost of holding the non-yielding asset. "Also, news that China is scaling back its COVID restrictions means that gold demand will increase in the region, further supporting prices," said Simpson. The London Bullion Market Association is creating a database of Russian gold bars held by banks in London to help prevent sanctions evasion by Russian companies or the Russian central bank, the industry group said on Friday.

☆ Reactions to Trump announcing 2024 White House bid
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +5 min

SINGAPORE, Nov 16 (Reuters) - Donald Trump's aides filed paperwork for his 2024 White House bid on Tuesday as the former president launched a run to regain the title, aiming to pre-empt potential Republican rivals. Republicans are meanwhile closing in on the 218 seats they need to take a majority in the 435-seat House of Representatives. COMMENTS:ANTHONY SCARAMUCCI, FOUNDER, SKYBRIDGE CAPITAL, SINGAPORE (FORMER WHITE HOUSE COMMUNICATIONS DIRECTOR)"You know how you have a zombie that you can’t kill, like in the Night of the Walking Dead? If any one of those other candidates can present themselves with some of the Trump messaging without the Trump drama, there might be opportunities." Neil Young said 'it's better to burn out than fade away'...feels like Trump will go down this time with little glory."

☆ Gold retreats from three-week high as firmer dollar dulls appeal
▼ + stars: | 2022-11-07 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was down 0.6% at $1,670.29 per ounce, as of 0230 GMT. It's not unusual to see prices retrace against a large move from the prior session, gold is pulling back as the dollar gently rises, said City Index analyst Matt Simpson. Investors will now focus on the U.S. inflation data due later this week. "U.S. inflation data has the ability to make or break gold. Whilst markets currently favour a 50 basis-point rate hike, a hot inflation print would likely see odds for a 75 bps increase and send the dollar higher and gold lower," Simpson added.

The central bank's step underscores the dilemma Tokyo faces in trying to contain unwelcome yen falls, without resorting to interest rate hikes that could derail Japan's fragile recovery. Register now for FREE unlimited access to Reuters.com Register"Recent rapid and one-sided yen declines are undesirable. "We will continue to take appropriate steps against excess volatility, while watching currency market developments with a strong sense of urgency," he said. The government, which holds jurisdiction over currency policy, spent 2.8 trillion yen ($19 billion) in dollar-selling, yen-buying intervention last month when authorities acted in the markets to prop up the yen for the first time since 1998. The BOJ is widely expected to maintain its massive stimulus programme at its next two-day policy meeting ending Oct. 28.

☆ Gold firms as dollar rally pauses; rate-hike woes cap gains
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose on Monday after declining more than 1% in the previous session, as a pause in the dollar rally alleviated some pressure from the greenback-priced bullion, though looming U.S. rate hike restricted further gains. Spot gold rose 0.4% to $1,648.91 per ounce, as of 0405 GMT. The dollar index was flat, while the benchmark U.S. 10-year Treasury yields eased, moving away from the 14-year peak touched last week. A survey from the University of Michigan on Friday showed consumer sentiment improved further in October, but inflation expectations deteriorated a bit, keeping expectations of another 75-basis-point rate hike intact. Gold is highly sensitive to rising U.S. rates, which increases the opportunity cost of holding non-yielding gold.

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