Gold Prices at Pivotal Support Ahead of the Fed

Asia markets mostly higher ZTE resumes trade and jumps 10

In Dec the Fed forecast three rate rises this year.

The yellow metal was trading 0.20 per cent, or Rs 50, up at 28,467 per 10 gram, while the white metal was up 0.31 per cent, or Rs 124, at Rs 40,722 per 1 kg.

Data on Friday showed a steadily improving USA economy, with manufacturing output rising for a sixth straight month in February and preliminary consumer confidence for the month of March increasing as well.

Nevertheless, since the start of the year investors have traded French government debt at a heavier discount from ultrasafe German bonds, which means they are still distrustful of polls after last year's decision by Britain to leave the European Union and Donald Trump's victory in the US, both of which came as a surprise.

Analysts said the election this week in Holland had calmed concerns over political risk in Europe, as Dutch center-right Prime Minister Mark Rutte fought off the challenge of anti-Islam and anti-EU rival Geert Wilders.

Upcoming Earnings Results: Alexandria Real Estate Equities, Inc. (NYSE:ARE)
Pennsylvania Real Estate Investment Trust (NYSE:PEI) was up +3.53% ($0.52) to $15.25 and showed a volume of 1.67 mln shares. Earnings per share for the recently concluded quarter is expected to come in at $0.38 a share with $195.77M in revenue.

The central bank increased short-term rates by a quarter of a percentage point, as was widely expected, but also said that it continues to expect to raise rates a total of three times this year.

With the steep drop, the ten-year yield continued to give back ground after reaching its highest closing level in well over two years on Monday.

Citizens of the Netherlands voted yesterday, Wednesday 15 March, and the outcome may have a huge impact on the exchange rate.

Indonesia's central bank, also scheduled to release its latest decision on Thursday, is expected to keep its benchmark interest rate unchanged in a bid to spur economic growth.

He noted that only a few weeks before Wednesday's Fed announcement, expectations for a March hike were exceptionally low.

Mount Etna volcano erupts with BBC crew forced to flee
Lava flow mixed with steam had caused a huge explosion, which pelted the group with boiling rocks and steam, she said. The incident happened as Etna burst into life again, two and a half weeks after its first eruption in over a year.

Futures for the S&P 500 pointed to a strong opening on Wall Street.

S&P 500 e-minis were up 2.75 points, or 0.12 per cent, with 53,199 contracts traded.

European stocks logged modest gains Wednesday, helped by advances for energy shares as oil prices were in recovery mode, while the results of the Dutch election and the Federal Reserve's policy meeting were on deck. That resulted in buying in U.S. government bonds, pushing yields, which move inversely to prices, lower, while a measure of the dollar's strength, the ICE U.S. Dollar Index DXY, +0.15% looked to end the week about 1.1% lower. If it closes lower Thursday, that would be the eighth decline in the last nine days.

The index was down nearly 1 percent overall for the week and 1.2 percent since the Fed hiked rates on Wednesday.

The euro bought $1.0621, compared with $1.0605 late Tuesday in NY.

Speaker Ryan Tells Rebel Republicans Health Care Bill Is Only Step 1
More than 20 million Americans have obtained insurance coverage through the Affordable Care Act's exchanges or Medicaid expansion. House Republicans have announced the long-awaited health care bill - the American Health Care Act (AHCA) - on Monday, March 6.

Gold rose $2.90 to $1,230.00 per ounce.

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