Gold edges up in Asia as North Korea gets another Trump’s warning

Gold edges up in Asia as North Korea gets another Trump’s warning

On Wednesday, gold rallied because political risk tacked on right after Donald Trump in a speech to the South Korean parliament dared to warn North Korea against making a "miscalculation" in development of its nuclear and missile weapons programs.

December delivery gold futures inched up 0.17% in New York being worth $1277.98 a troy ounce.

Overnight, the most popular precious commodity was pressured because safe-haven demand went down after worries relieved over political uncertainty in the Middle East. Meanwhile, steep leap in the US currency contributed to downside momentum.

Gold gave up most their revenues from Monday’s trading session because the evergreen buck rallied steeply following signs of progress on tax reform as well as bullish labor market data.

According to the US Labor Department's latest Job Openings and Labor Turnover Survey, September’s job openings grew to nearly 6.1 million, thus confounding hopes for 6.091 million.


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Evergreen buck heads north

On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…

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