Gold sinks in Asia as Trump is ready for showdown vote

Gold sinks in Asia as Trump is ready for showdown vote

On Friday, gold drifted weaker in Asia on political risk worries because a dramatic inter-party showdown loomed in America as on Thursday, the votes required to replace the Obama-era healthcare law fell short y and Donald Trump's office informed that he wanted an up-or-down decision already on Friday.

In New York, April delivery gold futures sank 0.28%, hitting $1,243.75 a troy ounce. Besides this, copper futures tumbled 0.98%, trading a $2.625.

Republican leaders failed to gain enough support to pass the GOP bill in a scheduled Thursday vote in the House. At a Republican House caucus gathering Thursday night, Mick Mulvaney, Office of Management and Budget Director told that if Donald Trump doesn’t get a vote on the bill, he’ll move on to other goals and leave the ACA, also dubbed Obamacare, in place.

A strike at BHP Billiton’s Escondida copper mine in Chile, the world's number one copper mine, is supposed to end after employees decided to invoke a rarely utilized legal provision to enable them to extend their old contract. 


Gold inches down

On Tuesday, the yellow metal declined, while the evergreen buck managed to rally a bit ahead of the American midterm elections, as market experts guess a Republican win would have the American dollar underpinned, while hurting commodities…

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Greenback edges down

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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