Gold ascends moderately in early Asia

Gold ascends moderately in early Asia

On Monday, gold soared moderately in Asia, with geopolitical tensions in focus because the USA moved an aircraft carrier group to the Korean peninsula and as worries relive linger as for a missile strike on a Syrian airbase the previous week remain.

In New York, June delivery gold futures added 0.04%, being worth $1,256.45 a troy ounce. Besides this, silver futures dropped 0.11%, trading at $17.973 a troy ounce. As for copper futures, they reached 2.643 a pound.

The previous week, gold retreated from five-month peaks on Friday as the stronger greenback weighed on the number one precious metal.

Prices soared early on Friday after America launched cruise missile strikes on a Syrian air base, thus reacting to suspected chemical-weapons attacks.

However, the precious metal gave back revenues because the evergreen buck inched up notwithstanding dismal American employment data as traders remained focused on the Fed’s plans to tighten its monetary policy.

 

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