MTECHTIPS;-Gold steadies below 5-month high amid geopolitical worries

MTECHTIPS;-Gold steadies below 5-month high amid geopolitical worries

MTECHTIPS-Gold prices eased slightly in North American trading on Tuesday, one day after rallying to its strongest level in five months as investors stayed cautious amid fresh political uncertainty in Europe and continued geopolitical tension concerning North Korea. Comex gold futures shed $5.40, or around 0.4%, to $1,286.50 a troy ounce by 8:50 AM ET (12:50 GMT). Meanwhile, spot gold was little changed at $1,285.10. The yellow metal settled higher for the fourth session in a row on Monday after hitting its strongest since early November at $1,297.40. Also on the Comex, silver dipped 14.4 cents, or about 0.8%, to $18.37 a troy ounce. It touched its highest since November 11 at $18.65 in the previous session. British Prime Minister Theresa May called on Tuesday for an early election on June 8, saying she needed to strengthen her hand in divorce talks with the European Union by shoring up support for her Brexit plan. Meanwhile, investors were continuing to monitor political developments ahead of the upcoming French presidential elections as the race tightened after a surge in polls for far-left candidate Jean-Luc Chameleon, who wants a referendum on the country’s European Union membership. Markets have long since been anxious about front runner Marine Le Pen, leader of the far-right National Front party, who also wants to put the country’s EU membership to a vote and abandon the euro
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