Gold held firm on Tuesday, buoyed by its safe-haven status amid rising political tensions over North Korea and the Middle East.
Spot gold was mostly unchanged at $1,254 per ounce by 0101 GMT. U.S. gold futures edged up 0.1 percent to $1,255.50. The upcoming French presidential election and heightened tensions in the Korean peninsula and the Middle East following the U.S. strikes on Syria have left investors nervous, even as a raft of data over recent months have pointed to a steadily improving global economy.
British Prime Minister Theresa May spoke on Monday to U.S. President Donald Trump and agreed that “a window of opportunity” exists to persuade Russia to break ties with Syrian President Bashar al-Assad, May’s office said.
The Federal Reserve plans to raise U.S. interest rates gradually so as to sustain healthy growth without letting the economy overheat, Fed Chair Janet Yellen said on Monday. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.21 percent to 838.26 tonnes on Monday from 836.49 tonnes on Friday.
You may like to watch:
The LBMA silver price benchmark auction was paused for 17 minutes on Monday after a circuit breaker was triggered when the auction price moved outside of the spot range, the CME said in a statement.
The International Monetary Fund sees a more favourable outlook for the global economy this year and next than in 2016, but it has concerns beyond the near term, IMF Managing Director Christine Lagarde said on Monday. Investor sentiment in the euro zone improved more than expected in April to remain at the highest level in almost 10 years on Monday, shrugging off risks linked to a closely watched presidential election in France.
The Bank of Japan offered its most optimistic view of the country’s regional economies in nearly a decade, even as some firms warned that uncertainty over U.S. President Donald Trump’s trade policies could affect their capital expenditure plans.
(Reporting By Nallur Sethuraman in Bengaluru; Editing by Richard Pullin)