US economic data News

Gold fell for a third day on Wednesday, set for its first monthly drop since December, as US economic data boosted the case for an interest rate hike by the Federal Reserve next month.

U.S. Federal Reserve officials said it would be appropriate to raise interest rates in June if economic data points to stronger second-quarter growth as well as firming inflation and employment, according to minutes from their policy meeting last month.

Wall Street stocks finished slightly higher Thursday following mostly solid US economic data ahead of the eagerly anticipated February jobs report.

Tokyo stocks soared at the start on Wednesday, extending a global rally as investor sentiment brightened on improved US economic data.

 The US dollar increased against other major currencies as the economic data from the country came out better than expected.

Gold languished near a four-week low on Thursday, retaining sharp overnight losses, as strong U.S. economic data and outflows from bullion-backed exchange traded funds sapped investor interest.

Crude oil futures rose on Friday, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies.

Gold was stuck near recent lows on Friday and was on track to post its biggest weekly drop in five as strong U.S. economic data backed the case for a near-term increase in interest rates.

Crude oil futures were largely steady on Friday after posting their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies.

Asian shares extended a global rally on Friday after upbeat U.S. economic data calmed sentiment, with Chinese stocks jumping for the second day following a rocky start to the week.

Wall Street rallied on Thursday as investors grew optimistic that the worst of recent market turmoil was over after strong U.S. economic data and hints that a September interest-rate hike was unlikely.

Gold struggled to pull away from a 5-1/2-year low early on Thursday after more upbeat U.S. economic data bolstered expectations the Federal Reserve could lift interest rates as soon as next month.

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

Gold continued to drift further at the domestic bullion market here due to reduced offtake by jewellery traders and retailers on the back of global uncertainty.

Gold retained gains from a five-day rally on Tuesday, trading near a three-month high as a recent string of sluggish US economic data stoked speculation the Federal Reserve would not raise rates any time soon.

The Dow Jones industrial average and S&P 500 ended at record highs on Monday, helped by a rally in Apple as well as tepid economic data suggesting the Federal Reserve may wait to raise interest rates.

Spot gold ticked up 0.4 percent to $1,183.08 an ounce by 0704 GMT, up from a six-week low of $1,170.20 reached on Friday

Gold fell to a six-week low on Friday as the dollar strengthened on US economic data and investor sentiment was undermined by longer-term expectations for a US rate rise.

Wall Street was lower in midday trading on Thursday as Apple weighed on major indexes and investors digested a mixed batch of economic data.