Find out the main drivers for this week
Gold adds in Asia on political risk worries
On Wednesday, gold rallied in Asia because increased political risk regionally and in the USA and Great Britain underpinned the number one precious metal.
In New York, February delivery gold futures grew 0.21% demonstrating an outcome of $1,267.50 a troy ounce.
On Wednesday, US B1 bombers are expected to fly over the Korean peninsula as part of a scheduled military exercises to withstand Pyongyang. The week-long drills burst out just a week after North Korea dared to test what it labeled as the most advanced ICBM and also warned that the exercises would get the Korean peninsula closer to the fierce nuclear war.
Overnight, gold dived to six-week minimums because the greenback kept strengthening on the back of recent investor optimism as for the anticipated tax reform.
Gold declined because bullish sentiment in risk markets was strengthening amid rallying investor hopes that the Senate as well as House of Representatives will have their respective bills reconciled, thus ensuring that the final bill will come to Donald Trump for the official approval before year-end.
The price for WTI has risen to its highest levels since the beginning of May.
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.