Gold prices decline in Asia

Gold prices decline in Asia

On Tuesday, gold sank moderately, with markets on watch for further developments on the Korean peninsula. However, traders noted strong equity markets as well as investor confidence.

In New York, June deliver gold futures dropped 0.15%, trading at $1,275.65 a troy ounce. Meanwhile, silver futures added 0.16%, being worth $17.960 a troy ounce. As for copper futures, they leapt 0.78%, hitting $2.586 a pound.

Overnight, gold prices dipped, as market participants pulled out of safe-haven assets, including gold, after pro-European nominee Emmanuel Macron managed to dominate the first round of the French presidential election.

Gold faced its biggest sag for over a month, declining more than 1%, after surveys showed Mr Macron would emerge victorious against anti-EU nominee Marine Le Pen during the run-off vote to take place on May 7.

The decrease in gold prices was capped by greenback weakness as well as ascending geopolitical tensions.



Greenback descends versus yen

On Thursday, the evergreen buck was just a touch lower versus the Japanese yen after reaching an eight-week peak overnight…

Gold is at 5-month minimums on stronger greenback

On Friday, gold dived to five-month minimums because optimism as for the US tax reform overhaul kept underpinning demand for the US dollar ahead of the highly-anticipated American nonfarm payrolls report to be released a bit later in the day…

Gold descends on profit-taking in Asia

On Monday, gold sank on profit-taking in Asia because market participants are closely watching the evergreen buck for potential further dives closely connected with a more gentle than anticipated rate lift path by the key US bank in 2018 after gloomy…

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