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On Tuesday, gold prices declined, losing some of their surge recorded at the last session. Futures on American stock markets pointed to surge after yesterday's sell-off, which reduced the demand for protective assets.
June delivery gold futures on a subdivision of the New York Mercantile Exchange, the Comex managed to acquire 0.42% coming up with $1341.1 per troy ounce.
On Monday, gold prices rose 1.44% amid worsening investor sentiment after the sale of technology companies, which led to a drop in quotations on Wall Street. Market participants are used to buying gold to save their money in times of political or economic instability.
The decline in the value of shares of technology companies in recent weeks has been associated with deep concerns about the misuse of user data by Facebook. Another factor of decline was the possibility of changing the tax regime for Amazon.
On Tuesday, American equities pointed out to a definite recovery at the opening generally neglecting a decline in stock markets in the European Union as well as Asia during night trading.
Investors are still apprehensive after China dared to impose extra duties on the import of some American goods. It led to increased disagreement between the two largest economies of the world and raised concerns about global economic growth.
It’s highly anticipated that this week the Trump administration is going to publish a list of Chinese goods, to which fresh duties are going to be imposed.
As for other metals, silver futures headed south 0.79% on the Comex demonstrating a reading of $16.54 per troy ounce. At the same time platinum futures managed to tack on 0.09% ending up with $937.30.
In addition to this copper futures inched up about 0.36% offering an outcome of $3,061 per pound.
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On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…
On Monday, gold surged nearly 1% hitting the highest value for three months because a combination of fears over soaring American yields as well as the impact of trade clash, along with geopolitical risks and also a weaker greenback, backed demand for the…
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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