MTECHTIPS;-Gold Prices Swing between Small Gains and Losses

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MTECHTIPS;-Gold Prices Swing between Small Gains and Losses


MTECHTIPS-Gold prices swung between small gains and losses on Monday despite heightened geopolitical risk as markets assessed the fallout from U.S.-led missile strikes on Syria on Friday. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange edged up 60 cents or 0.04% to $1,348.50 a troy ounce by 04:40 AM ET (08:40 AM GMT). Safe haven demand for gold was held in check by relief that the missile strikes on Syria did not prompt a response from Russia, Syria’s main ally, but markets remained watchful for any signs of escalation of the conflict. U.S. futures rose, pointing to a higher open on Wall Street as the market mood brightened. The military strikes were made in response to a suspected chemical-weapon attack on civilians in Damascus and were the largest intervention yet by Western countries against Syrian President Bash al-Assad. Investors tend to seek out gold as a store of value during times of market turmoil and political tensions

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