Gold Hits to More Than 7-Week High Ahead of Key Risk Events, Socks Slip

Gold Hits to More Than 7-Week High Ahead of Key Risk Events, Socks Slip

Gold futures prices rose to the highest level in more than seven weeks on Tuesday as Asian stocks and investors markets sought to get a safe haven before the market prospects move in later this week, including testimony director of the FBI former James Komei in front of the Committee In the Senate, and eneral elections in the United Kingdom.

Comex gold futures rose to a session peak of $1,296.40 a troy ounce, a level not seen since April 17.

Spot gold rose 0.8 per cent to $1,289.20 per ounce. It hit a peak of $1,289.67 an ounce, its highest level since April 19.

Gold prices recorded gains a second straight session on Monday, where players monitor the market’s new geopolitical tension in the Middle East, in addition to the repercussions of the terrorist attack in London at the weekend.

The players in the market will pay close attention to the testimony of FBI Director James Comey in front of the former Intelligence Committee in the Senate on Thursday in a hearing could add to the difficulties facing President Donald Trump.

It is reported that Komey is planning to testify on the talks in which Trump pressed him to drop his investigation into former national security adviser Mike Flynn, who was released for failing to disclose talks with Russian officials.

All events have the ability to promote safe-haven appeal of bullion, which is often used as an investment option in times of political and financial uncertainty.

Prime Minister Teresa Mae in the leadership of the opposition Labor Party has narrowed to 1 percent in Britain, according to a poll conducted by the TV-TV organization SURFACION on Monday. It is expected that vote will be more stringent than expected before.

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