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.


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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US Dollar Index at a 3-month Low
US Dollar Index at a 3-month Low

The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?

Soon Bullish Rally for Gold
Soon Bullish Rally for Gold

The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.

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