Forex Marketz Daily Forex News – Fully Markets Update
Gold futures inched higher Monday morning during Asian trade hours. They are trading near a better than two month high, which was hit last week. Traders are moving into safe haven asset classes as geopolitical tensions rise and the prospect of strong economic growth slows.
As of 12:30 am GMT, the spot gold contract was trading higher this morning. The contract edged up 0.1 percent to trade at $1,227.56 an ounce. On October 15, the yellow metal was at its highest price point since July 26 at $1,233.26.
U.S. gold futures, for front month delivery, also gained. They were up 0.2 percent to trade at $1,230.60 an ounce.
Gold Traders watch rising Geopolitical Tensions between the West and Saudi Arabia
Looking at the headlines, Saudi Arabia called the murder of journalist Jamal Khashoggi at its Turkish consulate a “huge and grave mistake.” They are still protecting their powerful crown prince. The kingdom says that Mohammed bin Salman was not aware of the plan.
In other headlines, President Donald Trump said that his country will withdraw from a Cold War-era treaty that brought an end to nuclear missiles in Europe. He claims that Russia is violating the pact. This triggered a warning from Moscow.
The Italian government expects the European Commission to decide to ask a member state to revise its draft budget. This should happen Tuesday and has never happened before.
U.K. Prime Minister Theresa May will tell parliament later today that 95 percent of Britain’s divorce deal has been agreed to. She will repeat her opposition to the European Union’s proposal a border with North Ireland.
