Gold rises, palladium hits record high as Fed shift hopes hurt dollar

US dollar eases in Asian trade on expectations of Fed pause

US dollar eases in Asian trade on expectations of Fed pause

Even after last week's strong U.S.jobs data for December, market watchers believe the world's biggest economy is losing momentum.

An index of world stocks rose on Monday, adding to Friday's strong gains, on optimism about the outcome of trade talks between Washington and Beijing.

MSCI's world equity index.MIWD00000PUS, which tracks shares in 47 countries, was up 0.77 percent, its highest since December 19.

"It is a reminder that central banks still have some firepower to deal with lower growth prospects, and perhaps what we are also getting some return of liquidity as investors return from the holidays", said Investec economist Philip Shaw.

"The main thing is the administration's implied progress on talks with China".

"There are a number of questions that remain unanswered", Shaw said.

Risk appetite got a huge boost on Friday when the US payrolls report showed 312,000 net new jobs were created in December, while wages rose at a brisk annual pace of 3.2 percent.

Fed Chairman Jerome Powell on Friday said the central bank would be more sensitive to downside risks in the market, adding that it was "prepared to shift the stance of policy" if needed.

Benchmark 10-year notes fell 6/32 in price to yield 2.680 percent, up from 2.659 percent on Friday.

The Dow Jones Industrial Average rose 165.54 points, or 0.71 percent, to 23,598.7, the S&P 500 gained 25.38 points, or 1.00 percent, to 2,557.32, and the Nasdaq Composite added 94.63 points, or 1.4 percent, to 6,833.48.

Giant 'Fatberg' Measuring 210 Feet Is Clogging Up British Sewer
Eventually, that mass was converted to biofuel, but it took workers months to fully restore function in the affected area. The issue has become serious enough that the government has proposed banning the wipes altogether .

The metal, used mainly in emissions-reducing auto catalysts for vehicles, gained 0.5 percent to $1,306.55.

"Clearly markets are now pricing in the risk of a cut in 2019", said Shaw of Investec. US crude CLc1 was up $1.64 at $49.6 a barrel.

Some of the stocks recovery may be attributed to investors buying stocks once again in the belief that the market had bottomed out or had overshot in pricing in global risks.

Futures pricing were flat to slightly lower, suggested that Wall Street would hold on to most these gains.

Analysts at Bank of America Merrill Lynch noted global equity markets had lost $19.9 trillion since January previous year, and a record $84 billion had flowed out of stocks in just the past six weeks.

"As the trade tensions have eased we've seen the dollar weaken somewhat and in turn gold prices have been able to benefit", Cooper said.

Spot gold was up about 0.6 percent at $1,292.41 per ounce as of 1254 GMT. Last week, amid intense pressure from USA policymakers including the United States president Donald Trump, the U.S. central had to step away from its much-debated monetary policy and interest rate hike, despite the inflation target had been closer to central bank's target (1.90 percent while the target was 2 percent).

Gold benefited from the diminished risk of USA rate hikes and rose half a percent to $1,290.90, just off a six-month high.

Oil prices started firmer after Brent bounced about 9.3 percent last week, while WTI rose 5.8 percent. The crude benchmark rose 135 cents on Monday to $58.42 a barrel, while USA crude futures gained 111 cents to $49.07.

Recommended News

  • Belgium bans halal kosher animal slaughtering practices

    Belgium bans halal kosher animal slaughtering practices

    Belgium has banned halal and kosher animal slaughtering practices due to concerns about animal welfare, Samaa TV reports. Belgium, with a population of about 11 million, is home to roughly 500,000 Muslims and more than 30,000 Jews.
    Teacher seen dragging autistic student no longer teaches at school

    Teacher seen dragging autistic student no longer teaches at school

    The child's mother in a Facebook post had also identified Abrams as the teacher in the video. Security video from inside the school shows the incident inside Wurtland Elementary School.
    Flu activity begins to spike across country

    Flu activity begins to spike across country

    Those in at-risk groups include people aged 65 and old, pregnant women and people with chronic diseases. It was the deadliest in 40 years when less than half of Americans got vaccinated. "It's not too late".
  • Christophe Dettinger: Fundraising for 'yellow vest' boxer ends after outcry

    Christophe Dettinger: Fundraising for 'yellow vest' boxer ends after outcry

    Another major demonstration has been called for Saturday, this time in Bourges, central France, instead of the capital . Leetchi initially defended its hosting of the fundraising, saying it was simply a "neutral" online platform.
    IPL 2019 set to begin from March 23 in India

    IPL 2019 set to begin from March 23 in India

    That the IPL will stay in the country was first hinted by BCCI officials during the players' auction in Jaipur last month. The entire 2009 edition was moved to South Africa, while in 2014, some games were played in the UAE.
    NY Meteorologist Fired After Saying A Racial Slur On Air

    NY Meteorologist Fired After Saying A Racial Slur On Air

    Luther C**n King Jr". "As a result of that broadcast, meteorologist Jeremy Kappell is no longer with News10NBC", said Reingold. The host later explained in his own apology statement that he spoke too fast, which ultimately left him slurring his words.
  • European Union  hits Iran with sanctions after murder plots

    European Union hits Iran with sanctions after murder plots

    Tehran has blamed ASMLA for the September 28, 2018 attack on a military parade in Ahvaz, which left 30 people dead and 70 injured. Tehran at the time protested the expulsion as an "unfriendly and destructive move" and threatened to retaliate.
    ASUS Unveils ZenBook S13 With Notch & Thin Bezels #CES2019

    ASUS Unveils ZenBook S13 With Notch & Thin Bezels #CES2019

    The biggest USP of the laptop are its 2.5mm NanoEdge bezels, which Asus claims are the thinnest on any laptop in the world. Asus also unveiled the StudioBook S (W700) at the trade show, which is a sleek and portable workstation-class laptop.
    Knicks’ Kanter to skip London trip, fearing Erdogan reprisal

    Knicks’ Kanter to skip London trip, fearing Erdogan reprisal

    Kanter is a follower of a US -based Turkish cleric accused by Turkey's government of masterminding a failed military coup in 2016. He says he can't travel anywhere except the USA and Canada because "there's a chance I could get killed out there".
  • Japan holds the world's most powerful passport for 2019

    Japan holds the world's most powerful passport for 2019

    Meanwhile, Ireland was ranked seventh alongside Belgium, Canada and Greece all of which can travel to 184 destinations. The Henley Passport Index (HPI) is a global ranking of countries according to the travel freedom for their citizens.
    Lose some kilos or... : Pakistan International Airlines warns 'obese' cabin crew

    Lose some kilos or... : Pakistan International Airlines warns 'obese' cabin crew

    According to guidelines, a 5ft 7in woman of "medium frame" should weigh no more than 147lbs, or 10-and-a-half stone. In the 1950s, flight attendants were subjected to harsh and unfair restrictions by airlines to look a certain way.
    Tigers Stem Tide as Clemson Rolls Alabama for National Title

    Tigers Stem Tide as Clemson Rolls Alabama for National Title

    The two teams continued trading haymakers throughout the first half, but Clemson went into the locker room with a 31-16 lead. Clemson made history Monday night by becoming the first 15-0 team in modern college football history.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.