Gold Halts Drop as Korean Stocks Rally; Crude Falls With Ringgit
Gold
rebounded from a one-month low, driving gains in precious metals as
Australian and South Korean stocks rallied with copper. Crude oil fell a
second day while the Korean won and Malaysian ringgit extended
declines.
Gold
rose 0.2 percent to $1,330.78 an ounce by 9:23 a.m. in Tokyo, snapping a
four-day slump and trimming its first weekly drop since January to 3.8
percent. Silver and platinum climbed at least 0.2 percent. Australia™s
S&P/ASX 200 Index rose 0.3 percent from an almost six-week low while
the Kospi Index in Seoul gained 0.6 percent. Standard & Poor™s 500
Index futures lost 0.1 percent. Oil in New York dropped 0.2 percent. The
won reached a six-week low as the ringgit slipped a third day.
Asian
stocks are down 1.6 percent in a second straight week of declines after
Federal Reserve Chair Janet Yellen indicated March 19 that U.S.
interest rates could rise as soon as six months after the end of the
central bank™s bond buying program. HSBC Holdings Plc and Markit
Economics™ gauge of Chinese manufacturing is due March 24, with
economists projecting ongoing contraction in the sector. Europe and the
U.S. expanded sanctions against Russian officials over Crimea.
Source : Bloomberg
Komentar
Posting Komentar