Gold Price Losing Shine Despite Geopolitical Tensions

May 8, 2018

New York (May 8)  Gold prices were flat Tuesday despite tensions that may result in heavy sanctions on Iran.

President Trump may have hinted he is going to pull out of the Iran nuclear deal.

"The US does not need John Kerry's possibly illegal Shadow Diplomacy on the very badly negotiated Iran Deal. He was the one that created this MESS in the first place!" Trump tweeted.

Gold was down USD3 at USD1311 an ounce, staying near 5-week lows.

On the economic front, the Labor Department's Job Openings and Labor Turnover Survey or JOLTS report that tracks monthly change in job openings and offers rates on hiring and quits will be released at 10.00 am ET. The consensus is for 6.100 million, while it stood at 6.052 million in February.

Federal Reserve Chair Jerome Powell will discuss "Monetary Policy Influences on Global Financial Conditions and International Capital Flows" at the Swiss National Bank and International Monetary Fund High Level Conference on the International Monetary System, in Zurich, with moderator Q&A at 3.15 pm ET.


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