SPDR Gold Trust News

Investors are settling into a cautious mode while they await the U.S. data, including June consumer confidence, pending home sales, crude oil inventories and revised first-quarter GDP for signs of softness that could push back rate hike expectations.

Gold rose to a fresh two-and-a-half-week high on Wednesday after gaining nearly 2 percent in the previous session, as disappointing U.S. economic data reinforced expectations the U.S. Federal Reserve will keep rates on hold in September.

Gold jumped 1 percent on Tuesday following a two-day decline, as Asian stocks slid on weak oil prices and mixed views on the outlook for Federal Reserve monetary policy.

Gold failed to get a lift from a softer dollar.

 Gold extended losses on Monday after a better-than-expected U.S. jobs report signalled strength in the economy and stoked speculation the Federal Reserve could raise interest rates soon.

Gold stayed near a three-month top on Thursday after marking its best day in two weeks as the U.S. dollar slid after investors scaled back expectations for a near-term U.S. interest rate increase.  

Gold was on the brink of five-year lows on Tuesday, with more losses expected in the coming months following Monday`s "bear raid" when sellers dumped an estimated 33 tonnes in just two minutes.

Gold exchange traded funds (ETFs) have lost favour among investors as mutual fund managers pulled out close to Rs 500 crore from these products in the first two months of the fiscal, mainly on account poor return.

Prices have gained 1.8 percent this week so far, the biggest weekly increase in over a month.

Gold edged up on Monday as Greece and its creditors failed to strike a deal to avert a debt default, but gains were capped as traders waited for a Federal Reserve policy meeting later this week for clues on the outlook for U.S. interest rates.

Spot gold slipped 0.2 percent to $1,191.40 an ounce by 0323 GMT, after gaining 0.4 percent on Tuesday.

Spot gold was down 0.3 percent at $1,205.28 an ounce by 2:43 p.m. EDT (1843 GMT), while U.S. gold futures for June delivery settled down 0.4 percent at $1,204.10 an ounce.

Gold rose 1 percent on Tuesday after disappointing U.S. data hit the dollar and dampened expectations that the Federal Reserve will hint at this week`s policy meeting at an interest rate hike in coming months.

Gold clung to sharp overnight gains on Tuesday, bolstered by a weaker dollar and short-covering on rising expectations the Federal Reserve will not hint at a June rate hike at its policy meeting this week.

Gold gave up some of its overnight gains on Wednesday as the US dollar firmed after earlier losses, with investors keeping their attention focused on the Greek debt crisis and its impact on the currency markets.

Gold firmed for the fourth straight session on Monday to its highest in more than two weeks, as the dollar extended losses and expectations rose that the Federal Reserve will hold off until at least September to raise interest rates.

Gold was steady but failed to rebound on Wednesday after falling more than 1 percent in the previous session as Greece`s plan to end a standoff with creditors lifted the appetite for risky assets such as equities.

For this year, gold has lost 0.3 percent and traded in a USD 260 range, although prices fell to a 4-1/2-year low in November.

Gold fell 0.2 percent to $1,161.60 an ounce Wednesday, after gaining 1.2 percent on Tuesday from a softer dollar.

US gold futures extended losses to a second session on Tuesday, falling towards their lowest since 2010, as the strength in the dollar hurt demand for the precious metal as a hedge.