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Gold rises, but U.S. rate hike bets set up monthly drop

Friday, April 29, 2022
Gold rises, but U.S. rate hike bets set up monthly drop © Reuters. FILE PHOTO: An ingot of 99.99 percent pure gold is cast at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, 2022. REUTERS/Alexander Manzyuk

By Bharat Gautam

(Reuters) - Gold rose on Friday as worrying U.S. economic data rekindled some interest in the safe-haven metal, but bullion was likely to log its first monthly drop since January on bets for aggressive interest rate hikes by the Federal Reserve.

Spot gold was up 0.6% at $1,905.67 per ounce, as of 0546 GMT, but had lost about 1.6% so far this month. U.S. gold futures were up 0.9% at $1,908.10.

The disappointing U.S. GDP number could take some pressure off the Fed to tighten quite as aggressively as it has hinted, a rhetoric that has pressured gold in recent weeks, said Ilya Spivak, a currency strategist at DailyFX.

"That has given gold a bit of a lifeline, and knocked the dollar back just a bit. I don't expect these moves to continue though," Spivak added.

Fed officials have aligned around plans to accelerate the pace of interest rate hikes this year, but remain split over what could be the make-or-break decision of where to stop to avoid dragging the economy into recession.

Higher short-term U.S. interest rates and bond yields increase the opportunity cost of holding zero-yield bullion.

Gold prices were headed for their first monthly percentage drop since January, with the dollar and U.S. 10-year Treasury yields strengthening this month.

A stronger dollar makes greenback-priced gold less attractive for other currency holders. The dollar edged off a 20-year high it reached against rivals in the previous session. [USD/]

"The freight train, otherwise known as the U.S. dollar, will have to slow down at some point. And that could bode well for gold when it does," trading firm City Index's senior market analyst Matt Simpson said in a note.

Spot silver gained 0.9% to $23.34 per ounce, platinum advanced 0.6% to $924.49, and palladium rose 0.7% to $2,247.63. All were set for monthly falls.

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18-05-2022 13:09:01 (UTC+7)

EUR/USD

1.0537

-0.0010 (-0.09%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (2)

EUR/USD

1.0537

-0.0010 (-0.09%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (2)

GBP/USD

1.2481

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

USD/JPY

129.05

-0.34 (-0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

AUD/USD

0.7035

+0.0006 (+0.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

USD/CAD

1.2813

+0.0003 (+0.03%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

EUR/JPY

135.99

-0.48 (-0.35%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

1.0473

-0.0004 (-0.04%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (5)

Gold Futures

1,813.16

-5.74 (-0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Silver Futures

21.657

-0.093 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Copper Futures

4.2405

+0.0082 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

111.00

+1.37 (+1.25%)

Summary

Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (4)

Brent Oil Futures

112.82

+0.89 (+0.80%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (3)

Sell (4)

Natural Gas Futures

8.278

-0.036 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

228.63

+3.83 (+1.70%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Euro Stoxx 50

3,741.51

+56.17 (+1.52%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

S&P 500

4,088.85

+80.84 (+2.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

14,185.94

+221.56 (+1.59%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,518.35

+53.55 (+0.72%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

Hang Seng

20,674.00

+71.48 (+0.35%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

US Small Cap 2000

1,840.30

+56.87 (+3.19%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,475.70

+122.00 (+1.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (11)

Sell (0)

BASF SE NA O.N.

50.690

+1.395 (+2.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

64.12

+0.91 (+1.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Allianz SE VNA O.N.

202.25

+3.43 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Adidas AG

183.30

+3.24 (+1.80%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Deutsche Lufthansa AG

6.827

+0.131 (+1.96%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

Siemens AG Class N

116.50

+2.90 (+2.55%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

Deutsche Bank AG

9.538

+0.319 (+3.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0537Neutral
 GBP/USD1.2481↑ Sell
 USD/JPY129.05↑ Sell
 AUD/USD0.7035↑ Buy
 USD/CAD1.2813Sell
 EUR/JPY135.99↑ Sell
 EUR/CHF1.0473Sell
 Gold1,813.16↑ Buy
 Silver21.657↑ Buy
 Copper4.2405↑ Buy
 Crude Oil WTI111.00Buy
 Brent Oil112.82Neutral
 Natural Gas8.278↑ Sell
 US Coffee C228.63Neutral
 Euro Stoxx 503,741.51↑ Buy
 S&P 5004,088.85↑ Buy
 DAX14,185.94↑ Buy
 FTSE 1007,518.35↑ Buy
 Hang Seng20,674.00↑ Buy
 Small Cap 20001,840.30Neutral
 IBEX 358,475.70↑ Buy
 BASF50.690↑ Buy
 Bayer64.12↑ Buy
 Allianz202.25↑ Buy
 Adidas183.30↑ Buy
 Lufthansa6.827Buy
 Siemens AG116.50↑ Buy
 Deutsche Bank AG9.538↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,825/ 6,925
(0/ 0) # 1,844
SJC HCM6,825/ 6,925
(0/ 0) # 1,839
SJC Hanoi6,825/ 6,927
(0/ 0) # 1,841
SJC Danang6,825/ 6,927
(0/ 0) # 1,841
SJC Nhatrang6,825/ 6,927
(0/ 0) # 1,841
SJC Cantho6,825/ 6,927
(0/ 0) # 1,841
Cập nhật 18-05-2022 13:09:03
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E5 RON 92-II28.95029.520
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
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EUR23.783,5625.115,95
GBP28.150,0329.351,12
JPY173,94184,14
KRW15,7819,22
Cập nhật lúc 13:04:58 18/05/2022
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