The US Payrolls Bring New Hope for Gold
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
Gold holds its revenues in Asia on Korean peninsula risks
On Wednesday, gold prices kept to peaks reached the previous year in November in Asia, as geopolitical risk on the Korean peninsula were powered by Trump’s tweets, warning North Korea the USA would tackle the problem of repeated missile as well as nuclear tests by the isolated country if China failed to act first.
In New York, June delivery gold futures added 0.38%, demonstrating $1,279.05 a troy ounce.
Overnight, gold traded higher, as market participants fled risk assets and looked for refuge in safe-haven gold amid ascending geopolitical tensions, after hopes grew that America might dare to take military action against North Korea.
The USA decided to deploy a Navy strike group to the Korean peninsula amid ongoing missile tests by North Korea.
On Tuesday, Donald Trump tweeted that North Korea was seeking trouble. It definitely signaled that America is prepared to solve the issue on its own, should China refuse to offer assistance.
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