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On Tuesday, gold jumped, with traders holding positions ahead of the British election on Thursday as well as testimony to Congress by the sacked FBI chief, which could potentially affect the Trump administration's further plans for economic reforms.
August delivery gold futures added 0.35% in New York, showing $1,287.16 a troy ounce.
Japan posted that in April average cash earnings earned 0.5%, compared with a 0.3% revenue observed year-on-year.
Overnight, gold drifted away from six-week peaks because safe-haven demand declined notwithstanding renewed geopolitical tensions as well as a bunch of risk events later during the week, which could generate turmoil in markets.
Gold reached a six-week peak during earlier trade, following new geopolitical tensions in the Middle East after Egypt, Saudi Arabia, Bahrain as well as the United Arab Emirates dared to accuse Qatar of terrorism. All of them snapped diplomatic and other ties with Qatar.
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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