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Precious metals prices jump after rumors of Wilbur Ross sacking

2019-07-15 10:27 am | Resource: News | No Views : 39

 Precious metals prices jump after rumors of Wilbur Ross sacking

Precious metals were higher on Monday as uncertainty in the market kept investors away from stocks and safer options. The media reported that US President Donald Trump was considering dismissing Commerce Secretary Wilbur Ross because he failed to include citizenship in the 2020 census.

US President Donald Trump is considering dismissing Commerce Secretary Wilbur Ross after his ministry failed to include nationality in the 2020 census, NBC reported on Monday.

US markets are trading in the pre-marketing market with Iran's focus

Wall Street stocks stabilized in pre-market trading on Monday, with continued focus on continuing tensions with Iran as well as on global trade issues. Tehran has said it will be open to negotiations with the United States if Washington cancels all sanctions against it and returns to the Joint Comprehensive Action Plan (JCPOA). Meanwhile, White House trade adviser Peter Navarro has claimed in weekend media reports about US-China trade negotiations that can not be trusted.
  • The Dow Jones Industrial Average, the Nasdaq 100 and the S & P 500, both did not change from the market closing on Friday at 10:26 CET.

The dollar index, which measures the performance of the greenback against a basket of six currencies, also stabilized at 96.8 points, ahead of the start of the corporate business season with Citigroup. The euro was steady against the dollar at 4:24 am EST, trading its hand against $ 1.12730. The pound was down 0.16% at $ 1.12730 later.

 This comes in cautious optimism ahead of US retail sales this week and speeches by Federal Reserve officials, including bank president Jerome Powell.

Precious metals trading
  • Gold was trading just 0.07% at $ 1.416.20 an ounce at 11:41 CET.
  • While silver jumped 0.74% to $ 15.34 at the same time.
  • Platinum rose 1.40% to close at $ 842.71 at 11:42 CET.
  • While palladium jumped 1.24% to $ 1,566.52 an ounce at the same time.


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