Gold gains in Asia on continued risk aversion on Middle East tensions
Gold ticked mildly higher in Asia on Tuesday on continued risk aversion with events in the Middle East in focus.
On the Comex division of the New York Mercantile Exchange, gold for February delivery inched up 0.02% to $1,075.40 a troy ounce. Silver futures for March delivery gained 0.35% to $13.875 an ounce. Copper futures for March delivery rose 0.12% to $2.084 a pound. Overnight, gold kicked off 2016 with a resounding opening to the new year, as investors reacted to a move by Saudi Arabia to cut commercial ties with Iran and weaker than expected manufacturing data in China.
NYMEX crude gains in Asia with Middle East tensions eyed
Crude oil prices gained in Asia on Tuesday with Middle East tension squarely in the picture.
On the New York Mercantile Exchange, WTI crude for February delivery traded up 0.31% to $36.88 a barrel.
Overnight, U.S. crude futures closed slightly lower on Monday, following a choppy, volatile day of trading as a trio of nations joined Saudi Arabia in severing diplomatic ties with Iran, escalating Islamic sectarian conflict in the Middle East and Africa.
On the Intercontinental Exchange (ICE), volatility in global crude prices was just as pronounced. North Brent Sea crude for February delivery wavered between $36.80 and $38.98 a barrel before closing at $37.28, to finish flat on the session. At Monday's highs, Brent crude futures reached their highest level since Dec. 15.
Energy prices surged in overnight trading in the aftermath of an attack on the Saudi embassy over the weekend following the kingdom's execution of a prominent Shiite cleric. Relations between Saudi Arabia and Iran have deteriorated since the execution of cleric Nimr al-Nimr and 46 others on Saturday for reportedly speaking out against the Saudi royal family.
Men's high value comes from the appearance of rolex replica uk high demand for their own management. They have a breitling replica thin dress, a strip of flesh, seemingly casual but actually in the details reflect the high quality of the omega replica dress. With some exquisite accessories to decorate, whether or tie clip are carefully considered cufflinks on the election, is a piece of men's replica rolex watches sublimation of the whole shape, reflecting the unique personality and high taste.