Forex Marketz Daily Forex News – Fully Markets Update
Gold futures moved higher during Asian trade hours, Monday morning. The dollar and equity markets were also higher as investors breathed a sigh of relief after this
Weekend’s missile strikes against Syria by the United States, France and Britain. This attack may be a onetime event.
By 1 am GMT, spot gold (XAU/USD) was up 0.1 percent. The bullion was trading at $1,346.1 an ounce. It was lower at the open.
U.S. gold futures gained 0.1 percent to $1,349.2 an ounce.
U.S., British and French forces hit Syria with air strikes early on Saturday. This was in response to a poison gas attack that killed dozens of innocent civilians last week. This was the largest military intervention by Western powers against Syrian President Bashar al-Assad to date.
Gold Traders watch Syrian Headlines Closely
Western powers will continue to study “options” if Syria again uses chemical weapons. However, nothing is planned as yet. The United Kingdom’s foreign minister said, His comments come after raids on Syrian targets triggered a global debate over their legality and effectiveness.
Equity markets were firmer in Asia today amid relief U.S. led strikes on Syria looked like a onetime event. These were designed to avoid a confrontation with Russia. Those fears weighed on oil prices.
The dollar firmed this morning. It was near a two month high against the yen. This comes after investors gained clarity following military strikes on Syria by the United States and allies over the weekend.
Russian President Vladimir Putin warned that further attacks on Syria would bring chaos to world affairs. Washington I getting ready to increase pressure on Russia with new economic sanctions.
The precious metal is up by more than three percent in 2018. The yellow metal is buoyed by global tensions and volatile stocks. It has not broken its tight trading range as investors are expecting rising U.S. interest rates.
