MTECHTIPS;-Gold prices gain in Asia as Trump travel policy noted

MTECHTIPS;-Gold prices gain in Asia as Trump travel policy noted

MTECHTIPS-Gold rose in Asia on Monday as investors noted a sharp reaction to President Donald Trump’s move to bar travellers from seven Muslim-majority countries from enetering the U.S. with markets in China, South Korea, Hong Kong and Singapore shut to mark the Lunar New Year. Gold Futures for April delivery rose 0.53% to $1.196.15 a troy ounce on the Comex division of the New York Mercantile Exchange. Copper was last quoted at $2.694. In the euro zone, Germany is to release preliminary data on inflation. The U.S. is to release figures on personal income and spending as well as a report on pending home sales. The seven countries cited in his executive order—Iraq, Iran, Libya, Somali, Sudan, Syria and Yemen—as being part of a restrictive travel regime already in place under former president Barack Obama. But Trump’s order sparked protests at airports over what was seen as targeting a religion for exclusion and by corporate leaders, including strong statements from Silicon Valley companies that have pledged support for the American Civil Liberties Union, which has filed a lawsuit seeking to stop the order, with some executives joining protesters at airports in San Francisco and New York. Last week, gold ended little changed on Friday, after weaker-than-expected figures on U.S. fourth quarter growth dampened expectations for a faster rate of interest rate hikes this year

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