Gold heads south on soaring greenback
On Friday, demand for gold slumped in the face of the growth of the evergreen buck…
Gold trades weaker in Asia
On Tuesday, gold came off recent revenues in Asia, with market participants alert to probable comments by American Vice President Mike Pence, scheduled in Tokyo for negotiations with Japan's leadership, including on ongoing tension on the Korean peninsula.
In New York, June delivery gold futures dipped 0.61%, trading at $1,284.00 a troy ounce. As for copper futures, they were last quoted down 0.39%, showing $2.587 a pound.
Overnight, gold prices soared, as market participants kept backing the number one precious metal amid geopolitical worries, while downbeat economic data powered market sentiment.
Gold futures made a decent start to the week, notching a five month peak earlier during the trading session, as market participants kept pouring into safe assets, including gold amid soaring geopolitical worries.
Geopolitical tensions over North Korea rose, after on Sunday North Korea tried to fire a ballistic missile, though it exploded almost immediately. By the way, North Korea kept conducting missile tests notwithstanding renewed efforts by China to convince North Korea to change course.
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