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On Monday, gold slumped in Asia because Donald Trump's first foreign visits as president were in focus with several deals signed in Saudi Arabia in the first stop. Additionally, traders neglected the latest missile test by North Korea.
June delivery gold futures tumbled 0.05%, trading at 1,252.99 a troy ounce. As for copper futures, they went down 0.62% a pound, hitting $2.571 a pound.
In the week ahead, market participants will be paying attention to Wednesday’s Federal Reserve gathering minutes for new signs as for the possible timing of the next American rate lift. Additionally, revised data on American first quarter surge as well as private sector poll data out of the euro zone will be in focus too.
In Canada, financial markets will be unavailable for a holiday.
The previous week, gold prices ascended on Friday and marked the greatest weekly revenue since mid-April. It’s because political uncertainty as for the Trump administration brought the greenback down, spurring demand for the number one precious metal.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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