Gold prices ascend as investors closely watch US-China trade clashes
On Wednesday, gold prices managed to tack on in Asia…
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.
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