* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl
* Powell: Fed will act "as appropriate" to sustain economic
July 9 Gold edged up on Tuesday after falling to
a one-week low earlier in the session as investors used the drop
in prices to buy the yellow metal with bullion holding a key
Gold prices edged lower on Monday as increasing expectations that the U.S. Federal Reserve will not aggressively cut interest rates later this month boosted the dollar, making gold expensive for holders of other currencies.
BENGALURU Rice export prices in India inched up this week, helped by a stronger rupee and a slight uptick in demand, while other hubs in Asia struggled to compete with rates offered by the top exporter.
Gold steadied on Wednesday, paring earlier gains as a rally in equities reduced the attraction of the non-yielding metal, while global growth concerns and prospects for dovish monetary policy kept bullion supported.
July 2 Gold prices rose 1.5% on Tuesday, a day
after posting the biggest one-day percentage fall in 2-1/2
years, as U.S. Treasury yields fell on worries over global
growth and renewed concerns over global trade.
* Dollar hits more than one-week high
* Gold breaks below $1,400 per ounce
* SPDR Gold holdings fall 0.2% on Friday
* Platinum off six-week highs
By Diptendu Lahiri
July 1 Gold slid by as much as 2% on Monday as
the dollar rallied and investors flocked to higher-risk assets
after the agreement to resume of trade talks between the United
States and China.
Spot gold was down 1.66% to $1,385.75 per ounce at
1:46 p.m. EDT (1746 GMT), after earlier falling to $1,381.51,
its lowest since June 20.
U.S. gold futures settled 1.7% lower to $1,389.30
The United States and China agreed on Saturday to resume
trade negotiations after President Donald Trump offered
concessions to his Chinese counterpart Xi Jinping when the two
met on the sidelines of the G20 summit in Japan.
The news spurred a rally in global stocks and sent the
dollar index to the highest in more than a week, limiting
flows into safe-haven bullion.
"Under the positive (geopolitical) circumstances, the dollar
is rallying and that is having a negative effect on gold. ...
The poor picture on the technical charts is also causing some
additional selling today," said Rob Lutts, chief investment
officer at Cabot Wealth Management.
A break below $1,350 per ounce could paint a bearish
picture, he added.
Gold prices hit a six-year high last week at $1,438.63 an
ounce, driven by a dovish outlook from major central banks and
an escalation of tensions between the United States and Iran.
The metal has shed about $50 since it broke the $1,400
threshold, but some analysts see it as a healthy correction and
an opportunity to buy.
"We do not expect gold to fall significantly further. In our
view, it is above all the upcoming European Central Bank and Fed
rate cuts, and the political risks, that argue against any
pronounced and lasting price slide," Commerzbank analysts said
in a note.
Meanwhile, holdings of the SPDR Gold Trust , the
world's largest gold-backed exchange-traded fund, fell 0.22% on
Friday. Holdings had still risen nearly 7% in June as of last
Among other precious metals, silver fell 1.1% to
$15.14 per ounce, while palladium rose 0.68% to $1,548.51
per ounce. Platinum inched down 0.66% to $827.50, after
hitting a six-week high of $846.11 per ounce earlier in the
(Reporting by Diptendu Lahiri in Bengaluru; Editing by G Crosse
and Will Dunham)
Gold prices retreated from a six-year high on Tuesday after comments from U.S. Federal Reserve officials trimmed expectations that the central bank will lower interest rates by half a percentage point next month.
* SPDR posts biggest daily percentage gain since 2008
* Speculators increase net longs in COMEX gold
* Spot gold prices up more than 8% this month
By Diptendu Lahiri
June 24 Gold prices rose more than 1 percent on
Monday to a near six-year peak as the dollar fell, with
safe-haven bullion also boosted by U.S. President Donald Trump's
announcement to impose fresh sanctions on Iran.
Spot gold was 1.2% higher at $1,415.16 an ounce by
01:57 p.m. EDT (1757 GMT), heading for a fifth straight session
of gains. Its session high of $1,416.84 was its highest level
since late August 2013.
U.S. gold futures settled up 1.3% at $1,418.20 an
"Gold is holding some sprawling gains from the earlier
sessions prompted by slumping dollar and increasing safe haven
demand on the back of President Trump threatening to impose new
sanctions on Iran," said Alex Turro, market strategist at RJO
"Gold is also getting some underlying support by the central
banks trying to cut rates."
Trump imposed new U.S. sanctions on Iran on Monday following
Tehran's downing of an unmanned American drone and said the
measures would target Iranian Supreme Leader Ayatollah Ali
Gold prices have risen over 8% this month, and about $75 an
ounce over the past week.
"It's the strong upside momentum from last week along with
higher ETF buying and a weaker dollar boosting gold prices,"
INTL FCStone analyst Edward Meir said.
Holdings of the world's largest gold-backed ETF, SPDR Gold
Trust , jumped 4.6% on Friday from the previous day, its
biggest daily percentage gain since September 2008.
Helping gold's appeal, the dollar dipped, after its biggest
weekly drop since mid-February last week on bets the U.S.
Federal Reserve would start lowering interest rates as early as
The Fed and the European Central Bank last week hinted they
were open to easing policy to counter a global economic
slowdown, exacerbated by trade tensions.
Investors' eyes will be on a summit in Japan this week of
leaders from the Group of 20 leading world economies. China's
President Xi Jinping and Trump are expected to meet on the
sidelines, which could be pivotal in getting negotiations back
on track to resolve a trade war.
"The China-U.S. trade conflict is not getting anywhere.
Additionally, the Iranian conflict is also starting to
heat-up... That is why people are seeking gold as safe haven,"
said an analyst based in New York.
"The climb in gold prices has woken people up. Now that gold
has broken the 1,400 level, it is expected to go up."
Speculators also boosted their bullish stance in COMEX gold
in the week to June 18, the U.S. Commodity Futures Trading
Commission said on Friday.
Silver edged 0.4% higher to $15.41 per ounce and
platinum rose 0.7% to $811.36. Palladium climbed
2.6% to $1,539.51 an ounce.
(Reporting by Diptendu Lahiri and Swati Verma in Bengaluru
Editing by Marguerita Choy, David Gregorio and Susan Thomas)