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On Wednesday, gold went down because China posted better than expected PMI figures for May, thus underpinning copper moderately on expected continued surge.
June delivery gold futures sagged 0.16% in New York, hitting $1,260.11. Meanwhile, copper futures tacked on 0.12%, being worth $2.573 a pound.
Overnight, gold rebounded from a one-month peak notwithstanding a soar in safe haven demand amid everlasting geopolitical worries in the European Union, while hawkish comments as for US interest rates from a top Fed representative capped upside momentum.
Gold sank at the beginning of EU trade on Tuesday because worries as for geopolitical uncertainty in Europe relived somewhat, following the publication of the ICM poll for The Guardian, revealing that the Conservative Party held a healthy lead of 45% unlike Labor's 33%, before the general election scheduled for June 8.
Besides this, euro zone finance ministers’ inability to agree on Greek debt relief with the IMF the previous week as well as the prospect of early elections in Italy spurred demand for safe haven gold that restricted losses.
On Thursday, the yellow metal headed south in Asia due to the fact that recent economic data indicated an improved economic surge outlook and also put pressure on the safe-haven commodity…
On Wednesday, gold was nearly intact, sticking with a four-month minimum because better-than-anticipated economic data from China kept global appetite for risky assets healthy and also tamed demand for havens…
On Tuesday, the yellow metal went down in Asia against the backdrop of more positive developments in the China-US trade negotiations…
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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…
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