Gold inches up in Asia as American politics provokes anxiety on economic policies

Gold inches up in Asia as American politics provokes anxiety on economic policies

On Wednesday, gold tacked on in Asia on the ongoing chaotic American political situation applying pressure on expectations for economic policies favoring tax dips as well as higher spending. Additionally, investors considered key lawmakers call for a memo probably written by ex-FBI director James Comey on Trump.

June delivery gold futures added 0.60%, hitting $1,243.82 a troy ounce in New York. Besides this, copper futures tumbled 0.24%, trading at $2.544 a pound.

Overnight, gold soared because American political jitters suppressed the greenback, while mostly dismal economic reports dampened expectations of a rebound in second-quarter American economic surge.

On Tuesday, market sentiment shifted towards safe-havens because political turmoil in Washington grew after two US statesmen told that Donald Trump unveiled sensitive information to Russian foreign minister at a gathering the previous week.



Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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