Gold and copper lose in Asia

Gold and copper lose in Asia

On Thursday, gold and copper weakened in Asia because a major measure of China manufacturing disclosed a sag into contraction in May.

In New York, June delivery gold futures dipped 0.20%, being worth $1,2769.47 a troy ounce. In addition to this, copper futures lost 0.50%, demonstrating $2.537 a pound.

Overnight, gold jumped because signs of weakness in the American economy underpinned safe haven demand after both manufacturing as well as housing data fell short of hopes.

Gold prices were still on track just to snap a two-day losing streak because market participants piled into safe haven gold, following a downturn American Midwest manufacturing as well as pending home sales.

In May, the Chicago Purchasing Management Index inched down to 55.2 from its strongest value in more than two years. For May, financial experts had hoped for an outcome of 57.0.

Geopolitical uncertainty along with an ongoing dip in greenback, has emboldened demand for the number one precious metal notwithstanding soaring hopes that the major US bank’s poised to lift interest rates already in June.

Similar

Gold declines on Fed remarks

On Wednesday, gold headed south and kept to a one-year minimum due to the fact the evergreen buck managed to strengthen on Fed Chair’s remarks, which backed views that the US major financial institution considers lifting its interest rates this year…

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera