Gold holds revenues as NKorea tensions are eyed

Gold holds revenues as NKorea tensions are eyed

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.

Similar

Brent overleaps $65 for the 1st time since 2015

On Tuesday, Brent crude futures rallied above $65 a barrel for the first time since 2015 following the shutdown of the Forties North Sea pipeline, which knocked out considerable supply from a market, which was already tightening because of OPEC-led…

Gold sinks moderately in Asia

On Tuesday, gold sank a bit in Asia, with language from the Federal Reserve after its Wednesday’s rate announcement considered to be key for direction…

Popular

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera