Gold rallies in Asia on ongoing North Korea test threats

Gold rallies in Asia on ongoing North Korea test threats

On Wednesday, gold went up as North Korea warned it could conduct another test in the nearer future. Most likely, it’s going to be an ICBM test on September 9 to commemorate its founding anniversary. It would put America and its allies in the position of a response, which could potentially include an attempt to shoot the rocket down.

December delivery gold futures grew 0.12% being worth $1,346.11 a troy ounce.

Overnight, gold ascended reacting to a tumble in the greenback on the back of soaring geopolitical uncertainty as well as dipping hopes that the Fed will raise interest rates for a third time later in 2017.

Gold leapt to near one-year maximums because geopolitical uncertainty was still actual, driving safe-haven demand amid North Korea’s most impressive nuclear test over the weekend.

Contributing to the soar in gold prices were remarks from Fed Governor Lael Brainard urging the number one US financial institution to postpone soaring interest rates until the trend of decreasing inflation improved.


The US Payrolls Bring New Hope for Gold
The US Payrolls Bring New Hope for Gold

The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

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Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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