UK polls suppress gold in Asia

UK polls suppress gold in Asia

On Thursday, gold sank in Asia because market participants looked ahead to Australia and China trade data. Investors pay much attention to the sacked FBI director James Comey’s testimony to Congress, the British general election and an ECB policy review.

August delivery gold futures lost 0.47% in New York, demonstrating $1,287.11 a troy ounce.

While pollsters foresee that British Prime Minister Theresa May’s Conservative party will gain enough seats to withstand the Labor party, market participants are still concerned that the Conservative party might not considerably expand its majority by as much as previously hoped. Additionally, the final General Election surveys have disclosed that the gap between the Labor and Tories has stuck at six points.

Overnight, the number one precious metal stabilized, underpinned by a drift lower in the US currency, as market participants actually anticipated a bunch of potential risk events, which could drive uncertainty and volatility, thus powering demand for safe havens.

 

Similar

Popular

Yen climbs up in Asia trade

On Friday, the Japanese yen leapt in Asia on safe-haven demand because political turmoil in Brazil reached risk sentiment and financial markets became cautious ahead of the weekend…

Pound tumbles vs yen

On Tuesday, the British pound sank versus the Japanese yen after a suspected terrorist attack at a concert in Manchester, while the common currency hovered close to a six-month peak versus the greenback after German Chancellor Angela Merkel told that the…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera