Gold goes down in Asia as traders note UN Security Council rap of North Korea

Gold goes down in Asia as traders note UN Security Council rap of North Korea

On Wednesday, gold declined moderately in Asia, just a day after it jumped on a North Korean missile launch over Japan with market participants braced for reacting anew to fresh provocations right after the United Nations Security Council dared to have Pyongyang condemned for intensifying its weapons programs.

December delivery gold futures tumbled 0.04% in New York being worth $1,318.33 a troy ounce.

Overnight, the precious commodity remained underpinned notwithstanding easing from almost 11-month maximums on Tuesday because the evergreen buck pared some of its losses, although geopolitical uncertainty restricted downside momentum.

Gold ascended more than 1% to a nearly 11-month maximum of $1,331.18 because on Monday North Korea launched a missile, which passed over Japan, thus triggering a flight-to-safety among market participants, raising demand for safe haven assets, including gold.


Gold declines due to Thanksgiving Day

On Thursday, gold sagged in holiday-thinned trade, although losses were capped by rumors that the major US bank might not tighten American policy as mawkishly as previously anticipated…

Crude is firm on anticipated OPEC cut extension

On Wednesday, crude rallied after a reported dive in American crude inventories and also on hopes that an OPEC-led output cut aimed at tightening the crude market is going to be extended beyond next March…


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