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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.
Britain’s economic and political issues along with a no-confidence vote on Prime Minister Theresa May following her unsuccessful Brexit deal vote gave gold traders a hope of getting back to maximums of above $1,300 an ounce…
On Tuesday, gold managed to gain a bit due to the fact that the first dive in factory gate inflation for four months backed the argument that the major US bank should suspend monetary policy tightening and traders looked ahead to a bunch of remarks from…
On Thursday, gold was intact due to the fact that market participants waited for comments from Fed Chair Jerome Powell in the face of hopes that the head of the US key financial institution is going to reaffirm a pause in the US monetary policy…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
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…
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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