Gold Rallies Back Above $1,300 as Trump Cancels Meeting With North Korea
Thursday, 24 May 2018 22:01 WIB | PRECIOUS METALS |GOLDEMAS

Gold rallied Thursday, jumping back above the key $1,300-an-ounce level, as the U.S. stock market, dollar and Treasury yields declined following President Donald Trump™s cancellation of a planned meeting North Korean leader Kim Jong Un.

œIt seems obvious that the spike in gold is due to the cancellation of the summit with North Korea, Brien Lundin, editor of Gold Newsletter, told MarketWatch.

June gold jumped $15.80, or 1.2%, higher to $1,305.40 an ounce. A finish around this level would be the highest since May 14. Price had settled on May 17 at $1,289.60, the lowest of 2018 so far.

Prices for the metal had seen smaller gains before news, finding some support as minutes from the U.S. Federal Reserve™s May meeting didn™t indicate a more aggressive pace of interest-rate increases was in the offing. Central bank officials backed longstanding market expectations for an interest-rate hike next month.

Source : Marketwatch

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