Gold Rose After US President Declared North Korea A State Supports Terrorism
- Trade Magnates Team
- Nov 21, 2017
- 1 min read
Trade Magnates - Gold prices rose on Tuesday bouncing back from its biggest one day drop in more than 2 months as traders expected signals of the US monetary policy in the next month and amid US President, Donald Trump’s declaration of North Korea as a state that sponsors terrorism.
The statement by the US President increased demand on the precious metal being a safe haven for all investors after reaching its biggest day percentage drop in two months as the dollar gained strength amid speculation over the German Chancellor, Angela Merkel’s of being doubted to serve a fourth term. Gold future prices rose by $6.00 trading at $1,282 a troy ounce.
Investors will be watching later Tuesday the Current FED Chair, Janet Yellen, to speculate about the interest rates and the transition of the FED Chair to the new head Jerome Powell, and Fed minutes of policy meeting on Wednesday.
Tax reform will be the main event to keep an eye on for all investors when senate lawmakers vote to their tax bill version next week after Thanksgiving holiday.