Gold jumps in Asia

Gold jumps in Asia

On Thursday, gold added in Asia right after US Justice Department Deputy Attorney General Rod Rosenstein suddenly appointed ex-FBI director Robert Mueller as special counsel just to take over the investigation of Russia's hypothetical interference in the American presidential election.

In New York, June delivery gold futures tacked on 0.13%, trading at $1,260.29 a troy ounce. As for copper futures, they dipped 0.24%, being worth $2.538 a pound.

Overnight, gold futures inched up to a two-week peak because traders poured back into the safe-haven trade, following American political turmoil, while a recent batch of dismal economic data dampened investor hunger for riskier assets.

The US political saga kept dominating market moves for a second-straight day amid news that Trump asked ex-FBI Director James Comey to terminate an investigation into the actions of ex-National Security Advisor Mike Flynn.

The given political saga out of Washington applied pressure on the greenback that underpinned a soar in commodities across the board.


Gold declines due to Thanksgiving Day

On Thursday, gold sagged in holiday-thinned trade, although losses were capped by rumors that the major US bank might not tighten American policy as mawkishly as previously anticipated…

Crude is firm on anticipated OPEC cut extension

On Wednesday, crude rallied after a reported dive in American crude inventories and also on hopes that an OPEC-led output cut aimed at tightening the crude market is going to be extended beyond next March…


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