Equityworld Futures, New York – The price of gold rose triggered by the weakening of the US Dollar (US)

and the market is waiting for details of tax policy plans of President Donald Trump.

Gold prices rose amid low holiday moments purchases as in the US.

Reuters page launched on Tuesday (02/21/2017), the price of gold on the spot market rose 0.2 percent to US $ 1,238 per ounce.

While US gold futures for April delivery traded slightly lower to US $ 1,238.50 per ounce.

 

Equityworld Futures | Gold Price Prediction Down

Most of the gold trade is predicted to be low until the Federal Reserve (Fed) announced a policy to raise interest rates this week.

The plan 5 regional head of the Federal Reserve will meet this week.

The price of gold is very sensitive to interest rate hikes.

While market liquidity in today’s trading slightly lower due to the celebration of President’s Day holiday in the United States.

“The price of gold settled in the range of $ 1.220 to 1.245. It is expected to be good on President’s Day,”

said Head of Commodity Strategy at Saxo Bank Ole Hansen.

He said the move President Trump will continue to be the main source that inspired the gold market.

It is anticipated at this time is the promise of his tax policy.

 

Equityworld Futures | Gold Price Prediction Down

Meanwhile, the dollar has lost kekuatanya in recent weeks as menhilangnya post-election euphoria, where Trump
promises to facilitate tax cuts, reduced regulation and increased spending.

While the euro was slightly higher against the US dollar bond yields to move sideways,

ignoring concerns the political situation in France.

Among other precious metals, silver was up 0.4 percent at US $ 18.04 per ounce.

Platinum sold 0.05 per cent lower to US $ 1,000.50, and
palladium fell 0.5 percent to US $ 771.50 per ounce.

 

The Ministry of Energy and Mineral Resources Minister issued Decree No. 11 of 2017 on Gas Utilization for Power.

This rule aims to help PLN and IPPs (Independent Power Producer / IPP) get cheap gas, so the cost of fuel for electricity generation can be more efficient.

One of the options granted in PLN and IPP to get a cheap price is through imports of liquefied natural gas (Liquefied Natural Gas / LNG).

But imported LNG price is limited, a maximum of 11.5% of Indonesian Crude Price (ICP) upon arrival in the port of Indonesia (landed price).

In addition to electricity, planned to import LNG will also be opened for the industry, the rules are being drafted.

The goal is to lower the price of gas industry average of US $ 8-10 / MMBtu.

 

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