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. 


Something more Important than NFP
Something more Important than NFP

For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.    

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