Gold fell below $1,700
Gold (XAU/USD) is declining for the second day in a row. The reason of such a dynamic is that investors have turned to stocks.
Gold surges a bit in Asia after fresh NKorea missile launch
On Wednesday, gold didn’t manage to grow a lot in Asia following a fresh ballistic missile test by North Korea.
In New York, December delivery gold futures added no more than 0.02% showing an outcome of $1,293.60 per troy ounce.
Overnight, the number one precious commodity pared its revenues because reports informing that North Korea launched another ballistic missile failed to underpin safe haven demand.
Early on Wednesday North Korea dared to launch another ballistic missile from an area near Pyongyang, as South Korea’s military told, while the Japanese authorities stressed the missile fell in Japan’s exclusive economic zone.
As the Pentagon told, it was an ICBM. Japan PM Shinzo Abe called an emergency meeting of cabinet ministers over the missile test.
Besides this, gold was also underpinned by remarks from Fed Chair designate Jerome Powell. His comments were in line with the widely held view that the upcoming Fed Governor is going to adopt a similar stance to Janet Yellen on the US monetary policy.
Similar
GOLD: approaching $1,800!
The shining metal breaks above $1,760. How soon the 2012 heights may be beaten?
Gold shines as bright as $3,000
Find out the most bullish forecast for gold!
Latest news
Risk-on is back. Market news and trade ideas on July 9
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
Deposit with your local payment systems
