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Ringgit opens lower against US dollar	20:18 Business Times
Online retail sales jump in May	20:16 City AM
Inflation back up as transport costs fuel a steeper rise in May	20:16 City AM
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We'll Get One Last Unconventional Economic Indicator Before Tomorrow's Fed Announcement (FDX)	20:14 Houston Chronicle, Texas
Japan's May trade deficit widens on import costs	20:11 Japan Today - Business
RMB likely to replace dollar in global trade	20:11 The Peninsula - Business
UK's inflation rate rises more than expected	20:10 The Scottish Herald - Business
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FOREX: Ringgit Opens Lower Against Dollar For Three Straight Days In Early Trading	20:09 Bernama - Malaysian National News Agency - Markets
Russia backs weaker rouble to boost growth	20:01 The Peninsula - Business
Budgetary proposals to trigger inflation: Qamar	19:57 The Nation - Business
CITI: Here's Why The Fed Wants To Slow Down QE, Even Before The Economy Hits Its Goals	19:56 Business Insider - Finance
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Phil Matier: Brown Demonstrates Political Savvy With Unions Over Pay Raise	19:53 CBS San Francisco - Politics
Japan Exports Surge, but Trade Deficit Persists	19:53 The Wall Street Journal
Spain emerging from recession, says minister	19:51 The Peninsula - Business
US stocks move up on news of low inflation	19:47 Trinidad & Tobago Guardian Online - Business
Oregon's labor force decline continues in May, amid signs of economic improvement	19:38 The Oregonian
Kyle Bass: "The Next 18 Months Will Redefine Economic Orthodoxy For The West"	19:37 Zero Hedge
RMG Limited defines 20 kilometre copper target in NW Queensland	19:37 Proactive Investors (Australia)
Rupee remains weaker	19:35 The News International - Business
British inflation up to 2.7pc in May	19:35 The News International - Business
ECB rates becoming effective: Draghi	19:35 The News International - Business
1 to 2 hours old www.usagold.com --LIVE NEWS--
Air NZ Premium Economy cabin wins big at Skytrax Awards	19:22 Scoop - Business
Japanese Exports Soar on Weak Yen	19:18 CNBC.com - Asia
Japan Stocks Jump On Weaker Yen, Fed Hopes	19:17 Fox News - Technology
Economic growth slows in April: WBC-MI	19:16 Business Spectator - Economy
Japan logs US$10.4b trade deficit for May	18:59 Channel NewsAsia - Business
The Conference Board Leading Economic Index® (LEI) for Australia Increases	18:57 PR Newswire (Press Release) - General Business
We'll Get One Last Unconventional Economic Indicator Before Tomorrow's Fed Announcement	18:56 Business Insider - Finance
Japan rides yen higher	18:54 MarketWatch
G8 Welcomes Japan's Economic Policies, Abe Says	18:52 CNBC.com - US
Small Business & Economic Uncertainty	18:45 NBCNews.com
Stimulus Program Is Noise In Economy: Gilder	18:45 NBCNews.com
Above-target inflation is here to stay as British economy strengthens	18:41 City AM - The Forum
PC prices to go up on fall in rupee	18:40 The Times of India
Veris Gold Corp. elects nine-member board	18:36 PR Newswire (Press Release)
Japan's trade deficit climbs to $10.5B in May	18:35 St. Paul Pioneer Press, Minnesota - Business
Cannes Lions 2013: India strikes gold, Taproot bags 2 yellow metals for Times of India campaign	18:33 The Economic Times
Britain's economy ‘is being harmed by RBS’ and should be broken up, according to Banking Commission	18:31 This is Money - Investing & markets
Why rupee falls sharply when polls are around the corner	18:30 The Economic Times - Markets
FOREX-Euro in demand as Fed faces crunch time	18:28 Reuters - Economy
2 to 4 hours old www.usagold.com --LIVE NEWS--
Aussie Dollar Falls a Fourth Day Versus Greenback as FOMC Meets	18:23 Bloomberg - Regions
Zespri Gold3 licence allocation significantly oversubscribed	18:22 Scoop - Business
Treasury Secretary Jack Lew makes his mark with new signature	18:14 The Washington Post
Australia April Conference Board leading economic index: +0.3% (vs. prior +0.1%)	18:08 ForexLive.com
Dollar Gains for Third Day Versus Yen Before Bernanke Comments	18:07 Bloomberg - Markets
Commodities Brief: Gold technical set up continues to deteriorate	18:05 FXstreet - Forex News
Airlines gain altitude in the face of economic woes	18:04 The Irish Times - Business
Local scrap prices in Turkey stabilize with currency	18:02 Steel Business Briefing
Rupee hits record low at 58.77/$ ahead of Fed meet	18:01 Indian Express
Horseshoe Metals raises funds to advance copper exploration in WA	17:54 Proactive Investors (UK)

Fed Expectations Heighten Risk Appetite

by Peter A. Grant

June 18, AM
(from USAGOLD.com) --

Gold has come under additional pressure as the Fed commences its two-day FOMC meeting. In an environment where risks to growth are still evident and inflation appears to be tame, expectations of a generally dovish tenor from Fed chairman Bernanke seem to be on the rise.

While U.S. housing starts rebounded 6.8% in May, it was in reality a pretty disappointing number in light of the 14.8% decline in starts seen in April. CPI rose just 0.1% in May, below expectations of +0.2%. Core CPI was +0.2%.

The Fed is likely to to maintain its $85 bln in monthly asset purchases and signal its intention to keep rates near zero for the foreseeable future. This has heightened risk appetite ahead of the policy statement, lifting stocks and diminishing the appeal of gold as a safe-haven.

Interesting that persistent growth risks are bullish stocks, only because they suggest that the Fed will keep its foot firmly on the monetary gas pedal. Keep in mind how that's worked out for the Japanese lately: After announcing in April the biggest monetary easing experiment in history, Japanese stocks peaked in May and plunged more than 20%.

I expect the markets to be hanging on chairman Bernanke's every word at the press conference tomorrow. And I think he will be very careful not to suggest that QE tapering is imminent. Whether that is ultimately sufficient to perpetuate the bull market in U.S. stocks or not, remains to be seen.

One thing we do know, demand for physical precious metals remains robust. That has served to underpin the market amid outflows from gold backed ETPs. If stocks fail to extend the rally after the FOMC meeting, demand for metals could turn from robust to über-robust very quickly.

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Fed Expectations Heighten Risk Appetite