Gold prices rise in Asia
On Tuesday, gold prices ascended moderately during Asia trade, with market participants waiting for remarks from Fed Chair Janet Yellen this week supposed to offer a harder view on a widely expected rate lift next month.
In New York, December delivery gold futures added 0.23%, being worth $1,223.30 per troy ounce.
December delivery silver futures tacked on 0.07%, trading at $16.932 per troy ounce, while copper futures stood still at $2.518 a pound.
Copper prices have soared after American president-elect Donald Trump raised the probability of increased infrastructure spending, while recent indications of strengthening demand in China have also bolstered prices. The metal is regarded as a major indicator of the world economy. It’s employed in the construction of power generation and transmission, buildings and the manufacture of consumer electronics.
Overnight, gold prices dipped to a more than five-month minimum, thus extending four straight trading sessions of losses as traders kept dumping the most popular precious metal in wake of Donald Trump’s win in the American presidential election.