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Gold prices up slightly in Asia in thin trade

Published 05/26/2014, 08:07 PM
Updated 05/26/2014, 08:09 PM
Gold prices up slightly in Asia

Investing.com - Gold prices gained slightly in Asia on Tuesday in thin trade with U.S. markets on holiday overnight.

On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,292.4 a troy ounce, up 0.04%.

Gold prices edged higher on Monday in electronic trading, as trade volumes were light with U.K. markets closed for a public holiday and markets in the U.S. remaining shut for the Memorial Day holiday.

Silver for July delivery on the Comex eased rose 0.01% at $19.420 a troy ounce. Copper for July delivery eased 0.17% to $3.183 a pound.

Copper prices have been well-supported in recent sessions amid growing optimism over the health of the U.S. economy and speculation demand from top consumer China will increase in the near-term.

Market players have also monitored developments tied to the elections in Ukraine over the weekend, where exit polls showed a decisive victory for Pro-European candidate Petro Poroshenko.

Poroshenko has promised to restore order in the country, following months of fighting between pro-Russian forces and the government.

Russian President Vladimir Putin had pledged on Friday to respect the result of Sunday's elections. The U.S and its allies warned that they would tighten sanctions against Moscow if voting was disrupted.

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