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On Wednesday, gold sank in Asia, as market participants noted political risk from the recent launch of a medium-range ballistic missile by North Korea ahead of a summit between Chinese President Xi Jinping and US President Donald Trump this week that will focus on the Korean peninsula in addition to trade. Moreover, traders also looked ahead to jobs figures from ADP for fresh clues on the next Fed rate lift.
In New York, April delivery gold futures sagged 0.05%, getting to $1,257.75 a troy ounce. Aside from that, silver futures dipped 0.16%, trading at $18.2933 a troy ounce. Meanwhile, copper futures tumbled to 2.616 a pound.
Overnight, gold kept to one-week peaks notwithstanding a jump in the greenback after the publication of bullish American trade data.
Gold kept trading within a narrow range with upside bias throughout the trading session, though a firmer greenback capped momentum in the number one precious metal, after bullish trade data revealed that the American trade deficit dipped more than expected in February.
On Thursday, gold ascended because bullish traders took the Fed’s latest hawkish remark in stride and also targeted the $1,250 level for the purpose of recapturing ground lost earlier in the year…
On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…
On Monday, gold surged nearly 1% hitting the highest value for three months because a combination of fears over soaring American yields as well as the impact of trade clash, along with geopolitical risks and also a weaker greenback, backed demand for the…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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