Markets

Stocks, dollar under pressure after soft US data

Stocks, dollar under pressure after soft US data

The rising gold prices is considered to be implication of political escalation around North Korea.

A weaker dollar makes dollar-priced gold cheaper for non-U.S. investors.

"Nervousness heading into the French election should theoretically provide some support to gold, but at some point, we think the markets will start to discount a poor showing for Le Pen and perhaps siphon off some of the risk premium already baked into prices", said INTL FCStone analyst Edward Meir.

Shares and the USA dollar dipped on Monday while US bond yields slumped to five-month lows after soft US economic data hurt investor sentiment already frayed by worries over North Korea and coming French elections.

Gold futures went up 2.20 dollars or 0.17 percent to close at USD 1,294.10 per troy ounce at the COMEX division of the New York Mercantile Exchange.

In France, investors remained nervous ahead of the first round of the presidential election on Sunday.

USA stocks regained some ground after the recent global risks had weighed on the market last week.

The gold price against a basket of foreign currencies is now approaching the highs reached in 2011.

As the Syrian civil war continues to deteriorate, the United States has also stepped up its aggressive stance toward North Korea, claiming that the US would be willing to attack the nuclear-armed nation.

Spot silver dropped 0.2% to US$18.21 per ounce.

Adding to these concerns, the US military last week dropped the largest non-nuclear device it has ever used in combat on a network of caves and tunnels used by Islamic State in eastern Afghanistan.

United States gold futures were down 0.5 percent at $1,285.50.

"Gold is trading with an upward bias with the $1,300 level just in sight".

The dollar index, which tracks the greenback against a basket of six rival currencies, edged up 0.2% to 99.62, pulling away from Tuesday's low of 99.36, its deepest trough since March 28.

"Despite recent price strength ... we continue to maintain our gold-price forecast for an average of $1,215/oz in 2017, and expect that investor attention will soon turn to the upcoming Fed meetings, where a rate hike is still on the table, in our view", the bank's note stated.


  • Sanchez and Ozil end Arsenal's 3-month wait for EPL away win

    Sanchez and Ozil end Arsenal's 3-month wait for EPL away win

    Wenger warned his players they can afford no further slip-ups if they are to secure yet another top-four Premier League finish. You could see we did not play with full confidence, but overall we really wanted to win", the Arsenal manager told Sky Sports .
    Iraqi arrested over Dortmund bus attack is suspected Islamic State group member

    Iraqi arrested over Dortmund bus attack is suspected Islamic State group member

    Former German global Lothar Matthaeus said it was "irresponsible" to get the players to go through with the game so soon after the attack.

    Man killed 3 on street, told authorities he 'hates white people'

    Pacific Gas & Electric Co. says one of its employees was killed during a shooting in downtown Fresno that left two others dead. Next, police say, the suspect walked down a street, encountered a resident and shot at the person multiple times and missed.
  • Playoff Preview: Spurs (2) - Grizzlies (7)

    Playoff Preview: Spurs (2) - Grizzlies (7)

    San Antonio even briefly held the No. 1 slot in the West during Golden State's mini-slump after the Kevin Durant injury. The majority will come on ESPN and TNT , but they could also be broadcast on TBS, ABC, ESPN2, ESPNews, or even NBA TV.
    Israel puts leader of hunger striking Palestinian prisoners in solitary

    Israel puts leader of hunger striking Palestinian prisoners in solitary

    He added the action could have been avoided had Israel entered into discussions with prisoners and not ignored the situation. Palestinian prisoners and detainees have suffered from torture, inhumane and degrading treatment and medical negligence.

    Nokia 6 Android 7.1.1 update now rolling out!

    Another interesting aspect would be that it looks like the Nokia USB driver and a few preloaded apps have also been upgraded. HMD Global has shared that the global variant of the Nokia 6 will be released this spring, which includes the United States.
  • Bill O'Reilly taking a break amid sponsor backlash

    MSNBC had 1.6 million, U.S. had 1.56 million, HGTV had 1.39 million and TBS had 1.2 million. Instead, Trump said he should have "taken it all the way", presumably in court.
    Thumbs-up for electronic sports at the 2022 Asian Games

    Thumbs-up for electronic sports at the 2022 Asian Games

    There will be eight qualifiers from each region (two per game) and four Turkmenistan players, making it a 52-player field. E-sports have been lobbying to get into the Olympics for several years now and Alibaba has been at the centre of it.

    A year on, few answers from probe into Prince's death

    A newly unsealed court document revealed that a doctor prescribed oxycodone for Prince using the name of the musician's friend. Howard Kornfeld, couldn't get there immediately so he sent his son, Andrew Kornfeld, on an overnight flight to Minnesota .
  • North Korea missile launch fails: Seoul

    North Korea missile launch fails: Seoul

    North Korea's vice foreign minister said the country's rumored next nuclear test would take place any time the leadership decides. Another missile test from Sinpo failed earlier this month, when the rocket spun out of control and plunged into the ocean.
    Trump blames Obama for MS-13's rise

    Trump blames Obama for MS-13's rise

    And Obama took multiple actions against MS-13 - which dates back to 1980s Los Angeles - in an effort to reduce its USA footprint. By 2006, the group was in at least 33 states , according to Federal Bureau of Investigation material at the time .
    NCAA names Georgia the site of four future postseason competitions

    NCAA names Georgia the site of four future postseason competitions

    The site selections follow the NCAA Board of Governors' vote to allow consideration of championship bids in North Carolina. A total of 613 sites in 43 states were awarded for this cycle.