Pacific Chiba Trust Archived Press 2015

Gold prices move lower 2% say Pacific Chiba Trust as it hits a six-year lows after Fed rate hike Gold futures fell by nearly $30 an ounce on Thursday, moving back down to near six-year lows. This came in first full session for gold since the Federal Reserve hiked interest rates for the first time in nearly a decade . “Gold for February delivery traded in a broad range on the Comex division of the New York Mercantile Exchange, moving between $1,046.90 and $1,073.20 an ounce before settling at $1,051.80, down 25.00 or 2.32% on the session” commented Charles Harper, Head of Corporate Finance at Pacific Chiba Trust. The precious metal saw its worst one-day fall since late-October, marking the seventh session it crashed by more than 2% on the calendar year. Gold likely gained support at $1,046.20, the low from Dec. 3 and was met with resistance at $1,121.90, the high from Nov. 4 . Major rate hikes, though, are viewed as bearish for gold, which struggles mightily to c...

Dollar pares losses after positive U.S. jobless data report Pacific Chiba Trust The U.S. dollar trimmed losses against a basket of the six major currencies on Thursday, supported by data showing a drop in U.S. jobless claims to their lowest level since November 1973 . The number of individuals filing for initial jobless benefits in the week ending July 18 dropped by 26,000 to 255,000, compared with a total of 281,000 in the previous week. Analysts had expected initial jobless claims to fall by 1,000 to 280,000 last week , said the U.S. Department of Labor in a report last Thursday. Such data came after Federal Reserve Chair Janet Yellen said last week that the central bank would likely raise rates "at some point this year ." “The dollar index fell by 0.36% at 97.27, off one-week lows of 96.97 hit earlier in the day . The euro rose 0.53% against the greenback to one-week highs of 1.0985 after a majority of Greek lawmakers voted for the second set of reforms late We...

Gold rises slightly, amid Greek debt woes, China sell-off report Pacific Chiba Trust Gold prices moved slightly higher on Friday, as mounting concerns about the Greek debt crisis and a sell-off in China offset the better-than expected U.S. consumer data. Gold futures for June delivery added 5.50 or 0.46% to 1,203.50 a troy ounce on the Comex division of the New York Mercantile Exchange. Gold reached a high of 1,207.80 in European afternoon trading, up from a low of $1,197.00. Gold futures rose roughly 5%, after reaching a low of 1,149.00 on March 17. “Gold futures were propelled by the U.S. Bureau of Labor Statistics' statement that its Consumer Price Index rose 0.2% for the month of March, slightly missing forecasts of a 0.3% rise” commented Charles Harper, Head of Corporate Finance at Pacific Chiba Trust. In addition, the subdued inflation expectations may also fuel speculation that the Federal Reserve could wait until the fall before it decides to raise interest ra...

Dollar jumps to one-week high versus yen report Pacific Chiba Trust The U.S. dollar rose to a one-week high against the Japanese yen on Tuesday. The greenback rose 0.68% versus the yen to reach 118.35. The U.S. dollar index moved higher 0.16% to 93.00. “This came after data showed that economic growth in China remained steady in the fourth quarter,” commented Louis Hunter, Head of Mergers & Acquisitions at Pacific Chiba Trust. China’s gross domestic product increased at an annual rate of 7.3% in the fourth quarter, beating economists' previous forecasts for growth to slow to 7.2% from 7.3% in the third quarter. However, China's economy slowed to 1.5%, on a quarter-over-quarter basis, from 1.9% in the third quarter, compared to forecasts for 1.7%.  The report eased concerns over the slowdown in the world's second-largest economy. Meanwhile, the euro remained broadly lower ahead of the European Central Bank (ECB) meeting later this week. It slipped 0.10%...