Photo: Investing.com
Tokyo, Japan (BBN) - Gold prices slumped in Asia on Monday as risk concerns eased after the French election went widely as expected, pitting centrist Emmanuel Macron and far-right leader Marine Le Pen in a May 7 runoff, reports Investing.com.
Gold for June delivery settled dropped 0.90% to $1,277.35% a troy ounce on the Comex division of the New York Mercantile Exchange.
Silver eased 0.09% to $17.907 a troy ounce and copper gained 0.47% to $2.563 a pound.
Investors will focus on ahead of Thursday’s European Central Bank meeting and Friday’s euro zone inflation data and preliminary estimates of first quarter growth from the UK and the U.S. on Friday.
Last week, gold prices edged higher on Friday as investors remained cautious ahead of the first round of voting in the presidential French election, underpinning safe haven demand for the precious metal.
Investors were also watching events in Washington.
On Thursday, U.S. Treasury Secretary Steven Mnuchin said the Trump administration will unveil a tax reform plan soon and expects it will be approved by Congress this year.
BBN/SA/AD