Monday, 15 May 2017

Gold Prices Rallied, The Dollar Rose

Gold prices rallied 0.2 percent to $1,231.24 an ounce, extending Friday's 0.3 percent gain.
U.S. Treasury yields dropped to 2.292 percent, building on Friday's loss when they ended at 2.333 percent, down from Thursday's close of 2.4 percent and their biggest one-day drop in more than three weeks.

Chinese shares added 0.35 percent, after the government soothed market fears of tighter regulation saying bank risks were "completely controllable."

That reassurance, as well as stronger retail sales and property investment data, helped offset weakness in factory output and fixed-asset investment growth.

Hong Kong shares gained 0.5 percent. Australian shares were down 0.2 percent. The euro was little changed on Monday at $1.093, holding Friday's 0.7 percent gain.

On Friday, the S&P 500 and the Dow Jones Industrial Average closed lower after growth in retail sales and consumer prices missed expectations, and worries deepened over the health of department stores after weak earnings reports.

The dollar rose 0.1 percent to 113.39 yen , failing to make up most of Friday's 0.5 percent loss.

The dollar index, which tracks the greenback against a basket of major trade-weighted peers, pulled back 0.1 percent to 99.151.

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