On Friday, gold managed to rally following the publication of American economic reports overnight…
Gold sinks in Asia, remaining backed on Middle East tensions
On Friday, gold went down in Asia, while being backed due to Middle East tensions between Saudi Arabia and Iran and an approaching summit in Vietnam among Asia-Pacific nations.
December delivery gold futures slumped 0.11% in New York trading at $1,286.13 a troy ounce.
Overnight, gold climbed up to three-week maximums amid a decline in the greenback on fears that the Senate would postpone corporate tax cuts until 2019.
Gold contributed to revenues from Wednesday’s trading session after the US currency dived on reports that on Thursday Senate Republicans will suggest delaying a cut in the corporate tax rate to 20% from 35% until 2019.
The very news of a probable delay to corporate tax cuts reversed recent risk-on sentiment, driving a flight-to-safety as investors happened to unwind their bullish bets on risky assets that followed on hopes that President Trump’s tax-reform plans would be operative before year-end.
On Thursday, gold extended a mild revival in the face of mixed American data as well as a stock market stabilizing near record maximums…
Bulls could not hold yesterday's gains for USD/JPY.
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…