Gold jumps in Asia following deadly Manchester concert venue explosion

Gold jumps in Asia following deadly Manchester concert venue explosion

On Tuesday, gold rose in Asia, reacting to a deadly recent explosion at a concert venue in Manchester. It’s currently considered to be a terror attack.

June delivery gold futures ascended 0.04% in New York, trading at $1,261.87 a troy ounce.

Overnight, gold added, underpinned by a tumble in the greenback, after the common currency soared to six-month peaks, while worries as for American political turmoil backed demand for safe-haven precious metal.

Gold contributed to its 2% profit hit the previous week, as market participants kept piling into the yellow-metal amid worries that President Donald Trump might struggle to offer his pro-growth economic agenda aimed at boosting the US economy.

Donald Trump’s hypothetical links to Russia as well as his sudden decision to sack ex-FBI chief James Comey, have definitely dominated moves in both the greenback and gold.

The evergreen buck faced its worst trading week in more than a year the previous week. It’s because market participants ditched the greenback amid soaring worries that Trump's intention to introduce initiatives, including tax-reform, infrastructure spending, deregulation widely considered as inflationary, would be ruined amid ongoing political uncertainty.


US Retail Sales

A change in retail sales is one of the most important economic indicators for the US economy and the USD.

Gold inches up

On Thursday, gold managed to gain due to the fact that the evergreen buck gave up some of its revenues, while relieving trade-war worries assisted traders in cutting bearish bets on other commodities…


Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

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