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On Monday, gold tumbled moderately in Asia after a weekend in which Germany and New Zealand went to surveys to both produce results, which pointed to lengthy negotiations to form coalition government. Additionally, traders watched the USA and North Korea boosted a war of words.
December delivery gold futures went down 0.07% being worth $1,2962.60 a troy ounce in New York.
In Germany, the far-right AfD party managed to grasp a shockingly huge percentage of the overall vote. With the outcome of 13.5% they finished third and entered the German parliament for the first time. Chancellor Angela Merkel's CDU along with Bavarian allies, the Christian Social Union (CSU), took 32.5%, thus becoming the largest parliamentary group.
Meanwhile, in New Zealand, Bill English's National Party as well as the Labour party will fight for the support of kingmaker Winston Peters, not to mention his New Zealand First Party.
On Monday, gold headed south to its lowest value of the year due to the fact that investor appetite for risk was still firm notwithstanding data disclosing that China's 2018 economic surge speeded down to a near three-decade minimum…
Britain’s economic and political issues along with a no-confidence vote on Prime Minister Theresa May following her unsuccessful Brexit deal vote gave gold traders a hope of getting back to maximums of above $1,300 an ounce…
On Tuesday, gold managed to gain a bit due to the fact that the first dive in factory gate inflation for four months backed the argument that the major US bank should suspend monetary policy tightening and traders looked ahead to a bunch of remarks from…
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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