Gold surges a bit
On Friday, gold headed south…
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.
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Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
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…
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