Gold soars in Asia as Trump's firing of Comey spurs policy worries

Gold soars in Asia as Trump's firing of Comey spurs policy worries

On Wednesday, gold grew in Asia because financial markets reacted to Donald Trump’s recent decision to fire FBI Director James Comey, thinking that the resulting political blowback could undermine efforts at tax cuts as well as other economic policy aims.

In New York, June delivery gold futures grew 0.48%, trading at $1,222.02 per troy ounce. Aside from that, copper futures tacked on 0.20%, showing $2.501 a pound.

Meanwhile, China posted consumer prices for April inched up 1.2%. It’s more than the 1.1% revenue observed year-on-year, while producer prices added 6.4%, which is less than the expected 6.9% soar.

Overnight, gold declined because market participants kept ditching safe-haven assets, after Emmanuel Macron’s win in the French election relieved uncertainty while a soar in rate lift hopes applied pressure on upside momentum.

Gold futures sank to an eight-week minimum because investor sentiment drifted towards riskier assets amid a tumble in the VIX volatility index to a 11-year minimum. 


The US Payrolls Bring New Hope for Gold
The US Payrolls Bring New Hope for Gold

The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

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Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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