According to trading data, on Friday, the price of gold on the New York Stock Exchange Comex increased by $3.5 to $1,223.70 cents per troy ounce against the backdrop of worsening tension due to a twofold increase in US duties on steel and aluminum from Turkey, finversia.ru wrote. After the statement of US President Donald Trump that he had approved the increase of duties on aluminum and steel from Turkey to 20% and 50% respectively, the Turkish lira fell to the historic minimum, losing 20% of its value for the day. The demand for gold, traditionally considered a safe asset, increases during geopolitical tensions.
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages. In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus ...
Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest ...
Gold prices were down slightly on Wednesday in Asia, losing gains made in a previous session. However, the safe haven asset’s losses remained limited as COVID-19 worries mounted on top of worsening U.S.-China relations. Gold futures ...
Gold prices fell earlier on Tuesday in Asia as the Dollar strengthened, pulling traction away from the yellow metal. Gold futures fell by 0.85% to $1,798.65 per ounce at 1:12 AM ET (6:12 AM GMT), still remaining above the $1,800 level. Losses ...