Gold prices hold revenues in Asia
On Tuesday, gold prices held revenues during Asia trade in the wake of weaker than expected trade data from China. Moreover, cautious trade ruled ahead of the American presidential election and note boosted expectations of a Federal Reserve rate lift next month.
In New York, December delivery golf futures ascended 0.35%, trading at $1,283.85 per troy ounce. Meanwhile, copper futures dipped 0.22%, trading at $2.307 per pound. By the way, copper futures have been well-backed in recent trading sessions as market participants bet that the global economy might be gaining momentum after a long period of sluggish growth.
In China, the trade balance for October demonstrated a surplus of about $49.06 billion, which is narrower than the $51.07 billion observed as exports as well as imports missed expectations too. China happens to be the world's top buyer of copper and also second largest gold importer.
Overnight, gold prices were steeply lower during North American hours, as demand for safe-haven assets ebbed after the FBI reported no new evidence against Hillary Clinton.