Gold dips on renewed NKorea tensions

Gold dips on renewed NKorea tensions

On Monday, gold declines because market participants drifted away from risky trades on North Korea tensions, although copper staged revenues because housing data from China demonstrated ongoing revenues for prices albeit at a slower tempo than the previous month.

December delivery gold futures went down 19% in New York being worth $1,322,62 a troy ounce. As for copper futures, they rallied 0.81% hitting 2.976 a pound.

China posted August’s house prices data tacked on 8.3% versus a 9.7% jump observed in July.

The previous week, gold went down as investors shrugged off a leap in geopolitical uncertainty that emerged after North Korea dared to launch another ballistic missile over Japan on Friday, while driving hopes that the major US bank will raise rates later in 2017 kept the precious commodity on track for a weekly loss.

Just a day after data demonstrating  inflation inched up to its highest value for seven months powered expectations of a December rate lift, gold was still on track to snap three-week gaining streak.


The US Payrolls Bring New Hope for Gold
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The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

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No More US Debts in Sight
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The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

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