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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.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
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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