In Asia gold keeps revenues on risk-on sentiment over American politics

On Thursday, gold surged in Asia because risk-on sentiment was still in place on prospects for Donald Trump to push fresh economic policies amid a political backlash as for his recent firing for FBI Directors James Comey.

In New York, June delivery gold futures grew 0.14%, being worth $1,220.65 a troy ounce. As for copper futures, they tacked on 0.28%, hitting $2.502 a pound.

Overnight, gold ascended because market participants’ hunger for risk relieved after Trump suddenly fired Comey. Meanwhile, geopolitical worries as for North Korea got back because gold futures bounced off an eight-week minimum.

Additionally, the New York Times posted that just days before he was sacked, Comey asked the Justice Department for extra resources for the bureau's investigation into Russia's reported interference in the presidential election.

Besides this, geopolitical concerns underpinned gold’s rise after North Korean ambassador to Great Britain told that the country will get down to its sixth nuclear test.

Similar

08.03.2022 21:17 Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

08.02.2022 09:40 First Oil Release After OPEC Meeting

US Energy Information Administration will reveal Crude oil inventories on February 9, 17:30 GMT+2.

01.02.2022 09:26 Will oil change the trend after OPEC-JMMC meetings?

On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.