The organization of the petroleum exporting countries (OPEC) and non-OPEC oil producers (Russia) will meet on July 1-2.
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.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…