MTECHTIPS;-Gold slightly weaker in Asia as Trump tour eyed,
MTECHTIPS;-Gold slightly weaker in Asia as Trump tour eyed, NKorea shrugged off
MTECHTIPS- Gold drifted weaker in Asia on Monday as Donald Trump’s first visits abroad as president were in focus with a flurry of deals signed in Saudi Arabia in the first stop and with investors shrugging off the latest missile test by North Korea at the weekend. Gold for June delivery eased 0.05% to 1,252.99 a troy ounce. Copper futures on the Comex fell 0.62% a pound to $2.571 a pound. In the week ahead, investors will be looking at Wednesday’s Federal Reserve meeting minutes for fresh indications on the possible timing of the next U.S. rate hike. Revised data on U.S. first quarter growth and private sector survey data out of the euro zone will also be in focus. Financial markets in Canada are to remain closed for a holiday. Last week, gold prices were higher on Friday and notched the largest weekly gain since mid-April as political uncertainty surrounding the Trump administration pressured the dollar lower, boosting demand for the precious metal. The dollar came under renewed selling pressure on Friday following reports that a senior White House adviser is a person of interest in the investigation into alleged Russian interference in November’s presidential election.
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