Gold trades lower to $1,213.85

Friday, 03/02/2017 | 08:50 GMT-0

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Gold's April delivery on the New York Mercantile Exchange traded to $1,213.85 a troy ounce, easing 0.46%. Copper futures reached $2.644, dropping 1.45%.

Gold lower while Trump imposes further sanctions

Following the latest news that Donald Trump, the U.S. President, will likely be imposing additional sanctions on various Iranian entities, the price of oil approached higher zones.

Furthermore, the brent crude futures, after having settled at $56,24 cents, approached $56.77 a barrel, rising 21 cents or 0.4%.

West Texas Intermediate (crude futures), traded to $53.82 a barrel, appreciating 0.5% or 28 cents.

The U.S. dollar resumes stable versus its counterparts today, while the investors and the traders watch closer the upcoming employment report release in the U.S.

The EUR/USD stabilized at 1.0758. The GBP/USD remained at 1.2522, and the USD/JPY traded to 113.07, rising 0.24%. The U.S. dollar index remained at 99.88.

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Source: https://www.argusfx.com/en/research-education/market-analysis/news/gold-trades-lower-to-1213.85

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