Gold rallies in Asia on renewed North Korea tensions

Gold rallies in Asia on renewed North Korea tensions

On Tuesday, gold soared in Asia, with risk increased because Donald Trump accused North Korea of being a state sponsor of terrorism.

December delivery gold futures tacked on 0.36% trading at $1,279.92 a troy ounce.

Overnight, the number one precious metal went down because a tumble in the common currency amid strengthening political uncertainty in Germany pushed the greenback to a nearly one-week maximum, thus dampening demand for gold.

On Monday, Chancellor Angela Merkel told that she would opt for new elections rather than lead a minority government after negotiations to form Germany’s next government failed overnight.

It generated worries over Merkel’s future leadership position, putting pressure on the euro, while backing an uptick in the evergreen buck to trade higher against a basket of major currencies.

As the Fed’s December 12-13 gathering is getting closer, there’re strong expectations that the US major financial institution will lift rates.


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?

Will oil change the trend after OPEC-JMMC meetings?
Will oil change the trend after OPEC-JMMC meetings?

On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.

Latest news

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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