Asian Market
Shanghai 3229 (-0.50%)
Nikkei 225 18258 (-0.42%)
Taiwan TSEC 9733 (+0.01%)
CRB 189.30 (+0.21%)
Gold COMEX $1294.30 (0.45%)
Silver COMEX $18.62 (0.57%)
WTI Crude $52.94 (-0.45%)
BRENT Crude $55.65 (-0.43%)
Dollar Index 100.39 (-0.12)
EURINR 1.0620 (0.02%)
USDJPY 108.25 (-0.36%)
GBPUSD 1.2537 (+0.11%)
Economic Activity
Bullion Update
Violence in Syria and Afghanistan triggered a flight to safety for bullion prices….
Gold prices hit a fresh 5-month high of $1297 this week as investors continued to rush towards safe haven assets amid rising geopolitical tensions, with the US bombing Syria and Afghanistan, have pushed the bullion prices sharply higher. Last week, the US dropped the largest non-nuclear bomb ever used in a combat, in Afghanistan, killed 36 suspected Islamic State militants. Moreover, the nervousness in the Korean peninsula supported the case for safe haven assets. The geopolitical tension may escalate further between U.S and North Korea as he marked a statement to conduct its sixth nuclear test soon. Beside, US president’s remarks about US dollar & interest rate also stoked upside momentum in precious metals. He told the WSJ that currency getting too strong and he does like lower interest rate.
(Bullion will open higher while energy slightly down)
More will update soon!!
