On Thursday, gold extended a mild revival in the face of mixed American data as well as a stock market stabilizing near record maximums…
Gold edges down in Asia as French survey results come in along expected lines
On Monday, gold prices tumbled in Asia, as risk worries eased after the French election went widely as expected, thus pitting centrist Emmanuel Macron as well as far-right leader Marine Le Pen in a May 7 runoff.
In New York, June delivery gold futures dipped 0.90%, trading at $1,277.35% a troy ounce. Silver futures descended 0.09%, being worth $17.907 a troy ounce, while copper soared 0.47%, trading at $2.563 a pound.
Market participants will focus on ahead of Thursday’s ECB gathering and Friday’s euro zone inflation reports and preliminary estimates of first quarter surge from Great Britain and America on Friday.
The previous week, gold soared on Friday as market participants remained cautious ahead of the first round of voting in France’ presidential election, thus backing safe haven demand for gold.
Traders were also monitoring events in America. On Thursday, US Treasury Secretary Steven Mnuchin informed that the Trump administration is going to disclose a tax reform plan soon and also expects it will be approved by Congress in 2017.
Bulls could not hold yesterday's gains for USD/JPY.
On Wednesday, the yellow metal surged because a leap in shares, which took two of the three key American stock indexes to record peaks, cooled…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…