MTECHTIPS;-Gold creeps higher after Trump sacks FBI chief Comey

MTECHTIPS;-Gold creeps higher after Trump sacks FBI chief Comey

MTECHTIPS- Gold prices traded higher on Wednesday, as investors’ appetite for risk eased, after President Donald Trump unexpectedly sacked FBI Chief James Comey while geopolitical jitters over North Korea returned. Gold for June delivery on the Comex division of the New York Mercantile Exchange gained $3.33 or 0.28%, to $1,229.54 a troy ounce by 13:29 EDT. Gold futures bounced off an eight-week low, as investors considered whether Trump’s abrupt dismissal of FBI Director, James Comey, could prove a distraction and delay the Trump administration’s economic agenda. The New York times reported that days before he was fired, Comey asked the Justice Department for additional resources for the bureau’s investigation into Russia’s interference in the presidential election. Meanwhile, geopolitical jitters underpinned the move higher in gold prices, after North Korean ambassador to the UK said the country will proceed with its sixth nuclear test. Despite the bounce in gold futures, overall sentiment remained fairly negative as it is widely expected that the Federal Reserve will hike interest rates in June.

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM
07489294118-119