Gold Falls As Stocks Gain After French Election Result

Gold fell nearly 1 percent on Monday to its weakest in two weeks after centrist Macron led the first round of voting in the French presidential election, boosting stocks and triggering a sell-off of safe-haven bullion. 

FUNDAMENTALS 

* Spot gold was down 0.9 percent to $1,273.15 per ounce by 0057 GMT. Bullion prices touched a low of $1,265.90 earlier in the session, the lowest since April 11. 

* U.S. gold futures were down 1.1 percent at $1,274.70 an ounce.

* The euro scaled five-month highs against the dollar in early Asian trading on relief at the result, while U.S. stock index futures rose sharply on Sunday. 

* North Korea said on Sunday it was ready to sink a U.S. aircraft carrier to demonstrate its military might, in the latest sign of rising tension as U.S. President Donald Trump prepared to call the leaders of China and Japan. 

* Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.52 percent to 858.69 tonnes on Friday.

Get Commodity Market Trading Tips for click here http://www.ripplesadvisory.com/services.php.

You May Also Like

0 comments

Note: only a member of this blog may post a comment.