Market Flash: iSHARES MSCI Indonesia Investable Market Index Fund (EIDO:US) PRICE: 28.530 USD Down -0.360 (-1.246%) >>> BI: Rupiah Melemah Akibat Kondisi Eropa >>> Pertemuan FED pertimbangkan langkah baru dorong ekonomi >>> KIJA akan Terbitkan MEN Valas USD150 Juta >>> PT Indika Energy Perusahaan Teladan Dunia 2011 >>> Govt Promises Revision of Cost Recovery Regulation >>> BPMigas Demands PGN to Pay US$6 per MMBTU >>> Jababeka to Raise US$150 Million from Debt Markets >>> SCG Chemicals buys Chandra Asri >>> Solusi Tunas eyes Rp380 bio IPO >>> SMR Utama scouts Rp300 bio IPO >>> Alam Sutera picks two bond arrangers >>> ASII Tetap Rajai Penjualan Mobil Agustus 2011 >>> Perusahaan Thailand kuasai Saham TPIA senilai Rp 3,76 Triliun >>> Agis Main ke Tambang, Sahamnya Masuk Dalam Pengawasan >>> ACES Mendekati The Northern Agar Mau Kurangi Kepemilikan >>> IHSG masih harus berjuang terus bertahan diatas MA200 >>> Melirik Peluang Akumulasi di Saham Perbankan >>> Analisa Saham BUMI: Kuat Bertahan & Berpeluang Kembali Uptrend >>> Analisa Saham JSMR: Bertahan Di Support, What Next? >>> INDF Tertahan Di Area Support Kuat, Berpeluang Rebound >>> ASII Break Minor Support, Sell on Strength >>> ADRO Membentuk Descending Wedges, Berpeluang Rebound Terbatas >>> Wall Street ends flat as early gains evaporate >>> Fed begins policy meeting, tiptoes toward easing >>> Fed meeting to help decide on long-term Treasuries >>> Greece Makes 'Good Progress' in Reform Talks: EC >>> China worried Europe debt crisis will hit trade >>> China could roll out 4.65tr yuan stimulus package >>> IMF sees Mideast stagnation >>> NYMEX-Crude ends higher at Oct contract expiry >>> Asian Crude Palm Oil Up On Technical Buying, Soyoil >>> Foreign net Sell - 61.785.746

Rabu, 03 Agustus 2011

Gold Tops $1,660 as U.S. Economic Woes Boost Demand for Investment Haven - Bloomberg

Gold futures topped $1,660 an ounce, extending a rally to a record, as escalating concern that the global economy is losing momentum spurred demand for the precious metal as an investment haven.

U.S. equities headed for the longest slump since 2008 after a report showed that consumer spending unexpectedly dropped in June for the first time in almost two years. President Barack Obama signed a debt-limit compromise, preventing a default. Gold has gained 39 percent in the past year amid low interest rates and two rounds of “quantitative easing” by the Federal Reserve to revive the economy.

“At the end of the day, they’ve got an extended check and a contracting economy,” Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said in a telephone interview. “That puts pressure right back on the Fed to go to a QE3. Every reason we’ve ever had to buy gold is coming up in spades.”

Gold futures for December delivery rose $22.80, or 1.4 percent, to close at $1,644.50 at 1:45 p.m. on the Comex in New York. The metal reached $1,661.90 in electronic trading after the settlement.

Gold also climbed to all-time highs in euros, pounds and Canadian dollars as manufacturing indexes in the U.S., Europe and China declined in July.

“The flight-to-quality money is flowing into gold,” Adam Klopfenstein, a senior strategist at MF Global Holdings Ltd. in Chicago, said in a telephone interview. “There’s a lot of uncertainty about the global economic recovery.”

Yesterday, holdings in exchange-traded products backed by gold climbed 1.4 metric tons to a record 2,153.6 tons, data compiled by Bloomberg show.

The U.S. still faces the prospect of a credit-rating downgrade, Bill Gross, who runs the world’s biggest bond fund, said yesterday on PBS’s Nightly Business Report.

Tidak ada komentar:

Posting Komentar