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* Positive economic data from the United States and China raises sentiment that Asian equities fluctuate near the nine-month high
* The SPDR's gold holdings are at their lowest since early November (Adding details and comments)
By Arijit Bose
APRIL 16 (Reuters) – The price of gold fell for a fourth consecutive session Tuesday, as optimistic economic statistics and clues showed that Washington and Beijing were progressing in a nearly one-year tariff skirmish have reinforced the feeling of risk.
Better economic conditions encourage investors to favor interest-bearing stocks and avoid unproductive bullion.
The spot gold price was down 0.2% at $ 1,284.98 an ounce at 0326 GMT. In the previous session, the bullion had dropped to $ 1,281.96, its lowest since April 4.
The gold futures in the United States yielded about 0.3% to $ 1,287.60 an ounce.
"The main reason that is putting pressure on gold is improving economic data (…) for countries like China, for example, things have turned out well," said L & # 39; Dominic Schneider badyst of UBS Wealth Management in Hong Kong.
Last week, China announced better-than-expected credit and export figures, which eased concerns about the pace of economic growth.
At the same time, employment data released in the United States last week also quieted confidence, easing fears of a speed loss of the biggest economy. The data showed that the number of Americans filing claims for unemployment benefits fell to its lowest level in 49 and a half years.
The broadest MSCI Asia-Pacific equity index outside Japan hit a record high since July 2018 in response to the strength of Chinese data.
"Stock markets are stabilizing, while optimism about a trade deal between China and China continues to support risk sentiment, thus completely reducing investors' appetite for safe haven securities, such as 39; gold, "said Stephen Innes, Head of Trading Strategies and Markets. , SPI Asset Management.
US Treasury Secretary Steve Mnuchin told Fox Business Network Monday that trade talks between Washington and their Chinese counterparts "are making a lot of progress."
"The other element that is putting pressure on gold is the 10-year yield in the United States, which, despite its easing yesterday, has collapsed somewhat compared to its March lows," added Schneider.
After reaching a trough of about 14 months in late March, the 10-year and 30-year US benchmark rates increased by 17 basis points and 16 basis points respectively.
Markets are now waiting for key data from the Eurozone and China, which will provide new clues to global economic health.
A Reuters poll also suggested that while China's first-quarter economic growth has probably slowed to the slowest pace in at least 27 years, the recent stimulus package would improve the economic atmosphere in the future.
The badets of SPDR Gold Trust, the largest gold-backed exchange-traded fund in the world, fell to 754.03 tonnes on Monday, their lowest level since November 9, 2018.
Among other metals, silver was down 0.4% to 14.93 dollars an ounce, reaching its lowest level since December 26th at $ 14.81 in the previous session.
The platinum spot rose 0.2% to $ 886.50 an ounce and 0.3% palladium to $ 1,365.95 an ounce. (Report by Arijit Bose in Bengaluru, edited by Sherry Jacob-Phillips)
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