Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Commodities  >  Platinum       

PLATINUM
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysis 
News SummaryAll newsTweets

Gold Extends Post-Fed Rally

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2017 | 03:51pm CEST
By Katherine Dunn 

Gold prices rose to a two-week high on Monday, as a weaker dollar and expectations of gradual rate increases helped extend a rally for the precious metal.

Gold for April delivery rose 0.2% to $1,232.40 a troy ounce on the Comex division of the New York Mercantile Exchange, on track to close at the highest since March 2.

Copper prices, meanwhile, wavered between gains and losses, recently up 2% to $2.6945 a pound on ongoing supply concerns related to labor strikes in South America and an export license in Indonesia.

On Monday, the WSJ Dollar Index, which weighs the dollar against a basket of other currencies, was down 0.1%. A weaker dollar makes dollar-denominated commodities more affordable for investors who hold other currencies.

Last week's meeting by the Federal Reserve has also helped boost gold prices. While the central bank raised interest rates as expected, comments by Fed officials suggested future increases will be gradual and the tone was dovish.

Future rate increases should keep a cap on the metal's gains, and the current rally is unlikely to turn into a full bull market, said David Govett, head of precious metals at Marex Spectron. However, "being long of gold is extremely sensible at the moment with Trump in the White House and French elections looming," he said.

Copper prices wavered on profit-taking by investors, and as supply disruptions to copper mines in Chile, Peru and Indonesia have dragged on. However, despite fundamental disruptions, the macro picture and the strength of the dollar are likely to drive metals prices in the near term, J.P. Morgan said in a weekly note.

"A combination of a steady global economy and relatively stable [U.S. dollar] are supportive of industrial metals as an asset class in the near term, with fundamentals taking over increased pricing power in the second half of the year," the bank said.

--Stephanie Yang contributed to this article

Write to Katherine Dunn at Katherine.Dunn@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PLATINUM
09:09aDJIMPALA PLATINUM : Warns of Widened Fiscal Year 2017 Loss
08/21DJMETALS : Copper Prices Hit Highest Level Since November 2014
08/21DJMETALS : Copper Prices Hit Highest Level Since November 2014
08/21DJGold Edges Up on Haven Appetite
08/17DJGold Gains on Divided Fed
08/16DJGold Extends Gains Following Fed Minutes
08/16DJBase Metals Gain Amid China Restrictions
08/16DJBase Metals Gain Amid Environmental Push in China
08/15DJGold Continues Fall Amid Easing North Korea Tensions
08/15DJGold Continues Fall Amid Easing North Korea Tensions
More news
Chart PLATINUM
Duration : Period :
Platinum Technical Analysis Chart | 4-Traders
Technical analysis trends PLATINUM
Short TermMid-TermLong Term
TrendsBullishBullishNeutral