Gold prices inch up as Trump travel ban sparks uncertainty
Buz Invewstors Gold prices inch up Gold is trading at $1192.10 per ounce at 10:40 GMT this morning, 0.13% lower from the New York close. This morning, the precious metal traded at a high of $1197.90 per ounce and a low of $1190.00 per ounce. On Friday, gold traded 0.78% higher in the New York session and closed at $1193.70 per ounce, amid weakness in the greenback and decline in global equity markets. Immediate downside, the first support level is seen at $1183.83 per ounce, while on the upside, the first resistance level is at $1199.13 per ounce.
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Gold prices inch up
Gold fees have been higher in North American morning exchange on Monday, kicking the week off with gains amid uncertainty over the outlook for united states of americapolicy after President Donald Trump introduced immigration curbs that sparked grievance at home and overseas.
Gold for April delivery at the Comex department of the big apple Mercantile trade rose $4.25, or around 0.4%, to $1,195.35 a troy ounce through 9:00AM ET (14:00GMT).
appetite for secure-haven belongings improved after Trump suspended travel to the usa from Syria, Iraq, Iran and 4 other Muslim-majority countries on Friday, saying the movements could help guard americans from terrorist assaults.
The govt order led to big protests in many U.S. towns and sparked worldwide backlash, elevating concerns about the doubtlessly destabilizing effect of Trump’s policies.
Headlines from Washington will maximum likely retain to dictate marketplace sentiment this week, as buyers attention on Trump for in addition info on his promises of tax reform, infrastructure spending and deregulation in addition to alternate rules.