Gold declines in Asia

Gold declines in Asia

On Tuesday, gold prices sank in Asia, as market participants mulled renewed demand prospects from China, reacting to data, which showed China's net-gold imports via major conduit Hong Kong soared 50.8% month-on-month in February.

In New York, April delivery gold futures dropped 0.19%, trading at $1,253.35 a troy ounce. Besides this, copper futures tumbled 0.15%, reaching $2.633 a pound because supply worries wane after strikes in the settlement the previous week of strikes at key mines in Chile and Indonesia.

Overnight, gold prices ascended, as market participants raised worries over President Trump’s ability to deliver on his pro-growth policies, right after on Friday the Trump administration didn’t manage to push a health care bill through congress.

Gold prices kept to session peaks, after a tumble in the greenback kept lending support to dollar-denominated gold, as market participants fled the so-called ‘Trumpflation trade’ amid concerns that the healthcare bill setback could affect Trump’s pro-growth policies being passed.


Gold rallies to 3-month maximums

On Monday, gold surged nearly 1% hitting the highest value for three months because a combination of fears over soaring American yields as well as the impact of trade clash, along with geopolitical risks and also a weaker greenback, backed demand for the…

Gold rallies more than 1%

On Thursday, gold jumped over 1%, thus getting back to the psychologically crucial mark of $1,200 because a rout in global stock markets underpinned worries over soaring bond gains, speeding down global growth, not to mention trade clashes…

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Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

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