MTECHTIPS:- Gold soars to more than 7-week high ahead of key risk
MTECHTIPS:- Gold soars to more than 7-week high ahead of key risk events
MTECHTIPS-Gold prices rose to their highest level in more than seven weeks in North American trade on Tuesday, as investors sought safe-haven assets ahead of potentially market-moving events later this week, including former FBI Director James Corey’s testimony to a Senate committee and the U.K.’s general election. Comex gold futures rose to a session peak of $1,296.40 a troy ounce, a level not seen since April 17. It was last at $1,293.83 by 8:15 AM ET (1215 GMT), up $11.05, or about 0.9%. Meanwhile, spot gold was at $1,291.18. Gold prices scored a second-straight session of gains Monday as market players monitored fresh geopolitical tension in the Middle East as well as the fallout from the weekend terror attack in London. Also on the Comex, silver futures tacked on 4.7 cents, or around 0.3%, to $17.62 a troy ounce. It rose to $17.71 in overnight trade, a level not seen since April 25. Market players will pay close attention to former FBI director James Corey’s testimony before the Senate Intelligence Committee on Thursday, in a hearing that could add to difficulties facing President Donald Trump.
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