17th February 2017

 Gold prices finished higher on Thursday as the dollar weakened after a 10-day winning streak and as US stocks lost some of their sizzle. The rest of the metals also advanced, although in the base metals space, a round of profit-taking sent the complex lower. On the whole, trading was relatively quiet in what was a rather uneventful day news-wise. In the physical markets, holdings in the SPDR gold trust increased for an 11th consecutive day. In the forex markets, the dollar weakened against a basket of currencies on Thursday, posting its steepest one-day drop in over two weeks as US bond yields dipped. Despite the spate of stronger-than-expected macro numbers coming out of the US this week, most investors believe that the Fed will stand pat in March on rates; futures markets are now assigning a 18% probability of a move next month, down from Wednesday’s reading of 31%.