On Tuesday, gold prices ascended moderately during Asia trade, with market participants waiting for remarks from Fed Chair Janet Yellen this week supposed to offer a harder view on a widely expected rate lift next month.
In New York, December delivery gold futures added 0.23%, being worth $1,223.30 per troy ounce.
December delivery silver futures tacked on 0.07%, trading at $16.932 per troy ounce, while copper futures stood still at $2.518 a pound.
Copper prices have soared after American president-elect Donald Trump raised the probability of increased infrastructure spending, while recent indications of strengthening demand in China have also bolstered prices. The metal is regarded as a major indicator of the world economy. It’s employed in the construction of power generation and transmission, buildings and the manufacture of consumer electronics.
Overnight, gold prices dipped to a more than five-month minimum, thus extending four straight trading sessions of losses as traders kept dumping the most popular precious metal in wake of Donald Trump’s win in the American presidential election.
In New York, December delivery gold futures added 0.23%, being worth $1,223.30 per troy ounce.
December delivery silver futures tacked on 0.07%, trading at $16.932 per troy ounce, while copper futures stood still at $2.518 a pound.
Copper prices have soared after American president-elect Donald Trump raised the probability of increased infrastructure spending, while recent indications of strengthening demand in China have also bolstered prices. The metal is regarded as a major indicator of the world economy. It’s employed in the construction of power generation and transmission, buildings and the manufacture of consumer electronics.
Overnight, gold prices dipped to a more than five-month minimum, thus extending four straight trading sessions of losses as traders kept dumping the most popular precious metal in wake of Donald Trump’s win in the American presidential election.
(Discuss) Gold prices rise in Asia
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