Gold Climbs to One-Year High as Dollar Weakens on ECB Rate View
Friday,11/03/2016|00:55GMTby
Bloomberg News
Gold advanced to the highest level in a year after the European Central Bank indicated it wouldn’t cut interest...
Gold advanced to the highest level in a year after the European Central Bank indicated it wouldn’t cut interest rates further, boosting the euro and making dollar-denominated bullion less expensive for investors.
Bullion for immediate delivery rose as much as 1 percent to $1,284.64 an ounce, the highest since February 2015, according to Bloomberg generic pricing. The metal, which is up 1.4 percent this week, traded at $1,277.12 by 10:45 a.m. in Singapore.
The euro could have its best week in more than a month against the dollar after ECB President Mario Draghi said more rate reductions probably won’t be needed after policy makers cut the benchmark rate to zero. Draghi also said the recovery in the euro area continues to face hurdles including subdued demand in emerging economies and volatile financial markets. These factors have spurred investors to seek shelter in haven assets and powered gold’s 20 percent surge this year.
“Gold rallied after Draghi’s comment of ‘no need for further interest rate cuts’,” Australia & New Zealand Banking Group Ltd. wrote in a note Friday. “The recent change in policy stance will support financial buying in gold.”
Gold Holdings
Investors resumed building holdings in Exchange -traded funds backed by gold, with assets rising 4.1 metric tons on Wednesday after dropping 1.1 tons the day before. The total stood at 1,728.1 tons, the highest since August 2014, according to data compiled by Bloomberg.
Gold-related Equities rallied on Friday as a gauge of Asian shares fell. Newcrest Mining Ltd., Australia’s biggest gold producer, rose as much as 3.9 percent in Sydney, while Zijin Mining Group Co. surged as much as 7.4 percent in Hong Kong.
The euro strengthened 0.1 percent to $1.1184 against the dollar after surging 1.6 percent on Thursday. The common currency has risen 1.6 percent this week, the most since a 3 percent advance in the period ended Feb. 5.
“Draghi’s comments boosted the euro against the dollar, and prices of precious metals rose,” Maike Futures Co. said. “As the outlook for U.S. rates strengthens after the second quarter, the dollar will have a more solid foundation over the euro. This will gradually weaken the upside momentum of” gold.
Spot silver rose by 0.2 percent, while platinum added 0.4 percent.
To contact the reporter on this story: Jasmine Ng in Singapore at jng299@bloomberg.net. To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net, James Poole
Gold advanced to the highest level in a year after the European Central Bank indicated it wouldn’t cut interest rates further, boosting the euro and making dollar-denominated bullion less expensive for investors.
Bullion for immediate delivery rose as much as 1 percent to $1,284.64 an ounce, the highest since February 2015, according to Bloomberg generic pricing. The metal, which is up 1.4 percent this week, traded at $1,277.12 by 10:45 a.m. in Singapore.
The euro could have its best week in more than a month against the dollar after ECB President Mario Draghi said more rate reductions probably won’t be needed after policy makers cut the benchmark rate to zero. Draghi also said the recovery in the euro area continues to face hurdles including subdued demand in emerging economies and volatile financial markets. These factors have spurred investors to seek shelter in haven assets and powered gold’s 20 percent surge this year.
“Gold rallied after Draghi’s comment of ‘no need for further interest rate cuts’,” Australia & New Zealand Banking Group Ltd. wrote in a note Friday. “The recent change in policy stance will support financial buying in gold.”
Gold Holdings
Investors resumed building holdings in Exchange -traded funds backed by gold, with assets rising 4.1 metric tons on Wednesday after dropping 1.1 tons the day before. The total stood at 1,728.1 tons, the highest since August 2014, according to data compiled by Bloomberg.
Gold-related Equities rallied on Friday as a gauge of Asian shares fell. Newcrest Mining Ltd., Australia’s biggest gold producer, rose as much as 3.9 percent in Sydney, while Zijin Mining Group Co. surged as much as 7.4 percent in Hong Kong.
The euro strengthened 0.1 percent to $1.1184 against the dollar after surging 1.6 percent on Thursday. The common currency has risen 1.6 percent this week, the most since a 3 percent advance in the period ended Feb. 5.
“Draghi’s comments boosted the euro against the dollar, and prices of precious metals rose,” Maike Futures Co. said. “As the outlook for U.S. rates strengthens after the second quarter, the dollar will have a more solid foundation over the euro. This will gradually weaken the upside momentum of” gold.
Spot silver rose by 0.2 percent, while platinum added 0.4 percent.
To contact the reporter on this story: Jasmine Ng in Singapore at jng299@bloomberg.net. To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net, James Poole
Clearstream to Settle LCH-Cleared Equity Contracts
FM Daily Brief: 23 April 2026
FM Daily Brief: 23 April 2026
It's Wednesday, the twenty-third of April 2026. You're listening to the Finance Magnates Daily Brief. Broker results first today: NAGA posts its first profitable quarter, and Hantec's Q1 volume hits one-point-two trillion. Also ahead: prop firm payout data and a three-hundred-million-dollar exchange deal.
It's Wednesday, the twenty-third of April 2026. You're listening to the Finance Magnates Daily Brief. Broker results first today: NAGA posts its first profitable quarter, and Hantec's Q1 volume hits one-point-two trillion. Also ahead: prop firm payout data and a three-hundred-million-dollar exchange deal.
It's Tuesday, the twenty-first of April, twenty twenty-six. You're listening to the Finance Magnates Daily Brief. Today's lead: the Bank for International Settlements has put dollar stablecoins on the regulatory hot seat. Also ahead: first quarter earnings from Capital.com and Plus500, Revolut pushes its IPO to twenty twenty-eight, and a look at where Singapore hedge funds are really moving.
It's Tuesday, the twenty-first of April, twenty twenty-six. You're listening to the Finance Magnates Daily Brief. Today's lead: the Bank for International Settlements has put dollar stablecoins on the regulatory hot seat. Also ahead: first quarter earnings from Capital.com and Plus500, Revolut pushes its IPO to twenty twenty-eight, and a look at where Singapore hedge funds are really moving.
In this video, we review @FundedNext a proprietary trading firm offering evaluation challenges for CFD and futures traders using simulated accounts.
We cover how the model works, including challenge types, profit targets, loss limits, and performance-based rewards. You’ll also learn about payout structures, supported platforms, and key features such as the firm’s 24-hour payout policy and flexible challenge formats.
Watch the full video to see if FundedNext fits your trading approach.
#FundedNext #PropFirm #PropTrading #FinanceMagnates #Trading #CFDTrading #FuturesTrading #TradingReview
In this video, we review @FundedNext a proprietary trading firm offering evaluation challenges for CFD and futures traders using simulated accounts.
We cover how the model works, including challenge types, profit targets, loss limits, and performance-based rewards. You’ll also learn about payout structures, supported platforms, and key features such as the firm’s 24-hour payout policy and flexible challenge formats.
Watch the full video to see if FundedNext fits your trading approach.
#FundedNext #PropFirm #PropTrading #FinanceMagnates #Trading #CFDTrading #FuturesTrading #TradingReview
TradingPro Winner Spotlight 🏆 | Global Best Overall Broker 2025
TradingPro Winner Spotlight 🏆 | Global Best Overall Broker 2025
TradingPro takes the spotlight as Global Best Overall Broker 2025 at the Finance Magnates Awards.
Yusna Yusman, Head of Global Marketing, describes the night as inspiring, elegant, and full of energy.
She also shares a message of appreciation to the clients and community whose support made this achievement possible.
👉 Be part of FM Awards 2026.
#FinanceMagnatesAwards #TradingPro #Trading #Fintech #Broker #WinnerSpotlight #Shorts
TradingPro takes the spotlight as Global Best Overall Broker 2025 at the Finance Magnates Awards.
Yusna Yusman, Head of Global Marketing, describes the night as inspiring, elegant, and full of energy.
She also shares a message of appreciation to the clients and community whose support made this achievement possible.
👉 Be part of FM Awards 2026.
#FinanceMagnatesAwards #TradingPro #Trading #Fintech #Broker #WinnerSpotlight #Shorts
In this video, we review @deriv an online broker offering CFDs and options across a wide range of markets, including forex, stocks, indices, commodities, cryptocurrencies, and derived indices.
We cover the broker’s overall offering, including its multi-jurisdiction regulatory structure, platform ecosystem, and range of account types. We also explore key features such as product availability, funding options, and trading conditions.
Watch the full video to see if Deriv fits your trading needs.
#Deriv #ForexBroker #CFDTrading #FinanceMagnates #Trading #BrokerReview #OnlineTrading
In this video, we review @deriv an online broker offering CFDs and options across a wide range of markets, including forex, stocks, indices, commodities, cryptocurrencies, and derived indices.
We cover the broker’s overall offering, including its multi-jurisdiction regulatory structure, platform ecosystem, and range of account types. We also explore key features such as product availability, funding options, and trading conditions.
Watch the full video to see if Deriv fits your trading needs.
#Deriv #ForexBroker #CFDTrading #FinanceMagnates #Trading #BrokerReview #OnlineTrading
