On Thursday, gold inched down and then recovered because downbeat American economic data compensated optimism over trade negotiations between America and China…
Gold goes up on Fed views in Asia
On Tuesday, gold prices soared in Asia in light trade with market participants cautious ahead of a widely expected Fed rate lift in June as well as prospects for a stronger greenback.
In New York, June delivery gold futures added 0.14%, trading at $1,228.78 a troy ounce.
Overnight, the number one precious metal stood still because traders ditched safe-haven assets, right after Emmanuel Macron grasped a landslide victory over Marine Le Pen in Sunday’s runoff vote.
Gold futures actually struggled to hold onto revenues because demand for safe-haven assets relieved, after centrist Emmanuel Macron outperformed his counterpart, gaining up to 66% of the French vote on Sunday.
The greenback managed to advance to session peaks and applied pressure on dollar-denominated gold, though downside momentum in gold was capped because a Macron win was highly anticipated, after he held a considerable lead over Marine Le Pen in the surveys during the buildup to the runoff vote on Sunday.
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
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…