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On Tuesday, gold held revenues in Asia because market participants were quite cautious as for tensions on the Korean peninsula.
December delivery gold futures rallied 0.27% reaching $1,315.00.
Overnight, gold went up abruptly because escalating geopolitical tensions on the Korean Peninsula powered safe-haven demand after North Korean Foreign minister Ri Yong Ho shockingly announced that Pyongyang boasts the right to shoot down American bombers.
The firm start to the trading week for the number one precious commodity comes after gold dipped to a second-straight weekly minimum the previous week as market participants unwound some of their bullish bets on this commodity.
Apparently, net bullish bets on gold inched down to 236,100.
Demand for gold could be pressured during the week because a flurry of Fed speakers are expected to deliver speeches including Fed Chair Janet Yellen on Tuesday.
On Monday, gold was nearly intact having reported three-straight winning weeks, as market participants prepared for Friday’s reports on American third-quarter surge, while monetary policy decisions this week from the ECB and Bank of Canada are going to…
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…
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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