Stocks worldwide slide as gold prices soar

Gold prices up as stocks worldwide mostly dip

ALBAWABA – Stocks worldwide slipped on Monday as gold prices surged over $2,010 by midday Amman Time, ahead of the upcoming United States (US) inflation data later this week.

European stocks were little changed, according to Reuters, while US equity futures slipped as Chinese economic data dented optimism after last week’s global share-market rally.

Meanwhile, Agence France-Presse (AFP) reported stocks in Europe slipping as investors looked ahead to the release this week of key US inflation data.

The Stoxx 600 index fell less than 0.1 percent, while Nasdaq futures retreated 0.2 percent, as Treasury 10-year yields climbed 5 percent to 4.51 percent, marking the highest in over a week, Bloomberg reported.

The US dollar fell against other major currencies, while gold prices soared.

Gold prices surged more than $12 on the ounce by 1400 Amman Time, according to GoldPrice.org, up 0.62 percent, to $2,014.51.

^{US dollar, stocks worldwide drop as gold prices rise – Shutterstock}

In fact, Reuters reported gold prices hit a six-month high of more than $2,017 per ounce earlier on Monday.

In the meantime, the pound rose to $1.2620, while the US dollar fell 0.32 percent elsewhere, against the Japanese yen and Euro, with the latter up 0.2 percent to $1.0952.

Overall, Reuters reported the dollar index slipping 0.12 percent earlier on Monday, to 103.31, while the Bloomberg dollar index spot shows the greenback down 0.09 percent, at 103.3090. The dollar is headed for a monthly loss of more than 3 percent, marking its worst performance in a year.

On the other hand, a slowdown in China’s industrial profit growth added to concern about deflation in the world’s second-largest economy.

The Hang Seng China Enterprises Index slipped as much as 1.4 percent, while the CSI 300 Index fell as much as 1.3 percent, according to Bloomberg.

Hong Kong, Shanghai, Tokyo, Sydney, Seoul, Singapore, Taipei, Mumbai, Bangkok and Wellington were all in the red, AFP reported. London and Frankfurt fell at the open, and Paris was flat.

Stocks worldwide and markets summary by AFP and Bloomberg

Tokyo – Nikkei 225: DOWN 0.5 percent at 33,447.67 (close)

Hong Kong – Hang Seng Index: DOWN 0.2 percent at 17,525.06 (close)

Shanghai – Composite: DOWN 0.3 percent at 3,031.70 (close)

London – FTSE 100: DOWN 0.2 percent at 7,473.87

Dollar/yen: DOWN at 149.00 from 149.56 yen on Thursday

Euro/dollar: UP at $1.0947 from $1.0922

Pound/dollar: UP at $1.2611 from $1.2585

Euro/pound: UP at 86.81 pence from 86.79 pence

New York – DOW: UP 0.3 percent at 35,390.15 (close)

The Stoxx Europe 600 was little changed as of 8:20 a.m. London time

S&P 500 futures fell 0.2 percent

Nasdaq 100 futures fell 0.2 percent

Futures on the Dow Jones Industrial Average fell 0.1 percent

The MSCI Asia Pacific Index fell 0.2 percent

The MSCI Emerging Markets Index fell 0.2 percent

Provided by SyndiGate Media Inc. (Syndigate.info).