Powerful comeback..


Gold’s making a powerful comeback. Prices have pushed above $1,300 an ounce on speculation that the U.S. central bank will be slow to tighten policy further, bolstering the metal’s appeal as the dollar sagged. Investors have piled back into bullion in 2016 after prices sank for three straight years as risks to the global economy prompted the Federal Reserve to signal it will take a slower approach to rate increases. Bullion for immediate delivery traded at $1,290.28 an ounce at Singapore from $1,291.55 on Monday, when it rose to $1,303.82, according to Bloomberg generic pricing.  While the metal’s appeal has also been boosted by the spread of negative interest rates in Europe and Japan, gold’s latest push higher came after the Bank of Japan refrained from adding stimulus last week, which hurt the dollar. The spike above $1,300 on Monday came as many financial markets in Asia and Europe were closed. Some forecasters have said the rally may last a while longer. Gold may rise to as much as $1,400, BNP Paribas SA said last month. Gold’s advance has fueled a rally in related equities. Newcrest Mining Ltd., Australia’s biggest producer, has jumped 54 percent in Sydney this year. In Hong Kong, Zijin Mining Group Co. has surged 27 percent after rising as much as 3.5 percent on Tuesday.

The future so-called new normal for interest rates might be lower than the Fed’s median estimate, San Francisco Federal Reserve President John Williams said at a conference on Monday.The U.S. expanded just 0.5 percent in the first quarter, the slowest pace in two years. This week, the release of monthly employment figures will provide clues on the strength of the world’s biggest economy and help shape the outlook for U.S. monetary policy.






Latest Commodity Prices

Name Last Change Net / % Today’s High/Low
NYMEX WTI Crude Oil 45.18 0.4000 ▲ 0.8933% 45.35 / 44.67
COMEX Gold 1303.10 7.3000 ▲ 0.5634% 1303.90 / 1291.20
NYMEX Natural Gas 2.052 0.0100 ▲ 0.4897% 2.065 / 2.041
COMEX Copper 2.257 0.0095 ▼ -0.4191% 2.2695 / 2.2385
NYMEX RBOB Gasoline 1.5586 0.0042 ▼ -0.2687% 1.5641 / 1.551
COMEX Silver 17.745 0.0630 ▲ 0.3563% 17.76 / 17.545

Market data from –  www.Nasdaq.com




J.Mason ♦