Gold prices traded higher in Asia


21-10-2018 03:30 PM

Gold prices moved higher on Monday morning in Asia, along with a progress in the U.S. dollar. The raise in gold prices is liable to be impacted by geopolitical tensions together with the Saudi murder of a journalist, Italy’s budget and Brexit indecision.

The U.S. dollar index, trading against a basket of currencies, gained 0.06% to 95.44, bringing up gold prices as gold is sold in U.S. dollars.

On Sunday, Saudi Arabia’s foreign minister Adel al-Jubeir told that killing of Washington Post columnist Jamal Khashoggi was a “tremendous mistake” and blamed it on a “rogue operation.” He claimed that the de-facto leader of the kingdom, crown prince Mohammed bin Salman, was not aware of the murder, flashing international scepticism.

The UK, France and Germany together released a statement on the same day, accusing the murder and urging the kingdom to clarify “exactly what happened on Oct.2 when Khashoggi’s disappeared - beyond the supposition that have been raised so far in the Saudi investigation, which need to be backed by facts to be measuredconvincing.”

“Obviously there’s been deception and there have been lies. Their stories are all over the place,” Trump told the Post, but he also praised Prince Salman as someone “who can keep things under check.”

In another place, the European Commission issued a letter last Friday, stating that Italy’s budget consist of excessive spending, and the Italian government has until Monday noon to have a dialogue with the commission.

According to the protest organizer People’s Vote Almost 670,000 people protested in the streets of London on Saturday, asking for a second Brexit referendum. U.K. Prime Minister Theresa May has ruled out such an alternative and is likely to continue her opposition to the EU’s proposal of the border with Northern Ireland.