Gold Erases This Year’s Losses on Dollar Decline; Silver Jumps

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Gold Erases This Year’s Losses on Dollar Decline; Silver Jumps

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PT. Equityworld Futures – Gold erased its 2015 losses and posted the biggest weekly gain since January as declines for the dollar boosted the metal’s appeal as an alternative investment. Silver climbed the most this year.

The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major currencies, headed for the steepest weekly drop since 2009. Federal Reserve Chair Janet Yellen suggested this week that the U.S. central bank was in no hurry to raise interest rates, even as a statement after a policy meeting showed officials dropped a pledge to be “patient” on tightening.

Gold and silver prices declined last week as investors exited in anticipation of an increase for borrowing costs. Higher rates cut gold’s allure because the metal generally offers returns only through prices gains, sending investors to assets with better yield prospects such as bonds.

Gold futures for April delivery rose 1.3 percent to settle at $1,184.60 an ounce at 1:43 p.m. on the Comex, leaving a gain of less than 0.1 percent for the year. In 2014, the metal fell 1.5 percent. Prices advanced 2.8 percent this week, the most since Jan. 16.

Silver futures for May delivery jumped 4.8 percent to $16.883 an ounce on the Comex, the biggest rise since Dec. 9. This week, prices climbed 9 percent, this most since August 2013.

sumber : ewfpro.com

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