COMMODITY MARKET NEWS :- Gold gains amid renewed North Korea fears

mmgold

Gold prices climbed to their highest in more than a week on Monday as renewed concerns over North Korea’s nuclear ambitions stoked safe-haven demand for the precious metal and weighed on the dollar.

Spot gold was up 0.5 percent to $1,282.39 an ounce by 0357 GMT, after earlier touching its highest since Sept. 29.

U.S. gold futures for December delivery gained 0.8 percent to $1,284.80 per ounce.

U.S. employment fell in September for the first time in seven years due to impacts from Hurricanes Harvey and Irma.

                                       Trading Ideas

  1. Gold trading range for the day is 29208-29780.
  2. Gold prices gained on concerns stoked by a Russian report that North Korea is preparing to test a long-range missile.
  3. Earlier, bullion fell on an upbeat reading of the U.S. unemployment rate and wage growth last month.
  4. The data showed the largest gain in U.S. wages since December 2016 bolstered bets on an interest rate hike by year-end.

Leave a Reply

Your email address will not be published. Required fields are marked *