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Gold steady ahead of French election first round 

The gold price has remained steady, with gold futures for June sitting at $1,283.80 an ounce, a sixth gain in seven sessions.

The first round of the French Presidential elections begins on Sunday,with an extremely tight race between Emanuel Macron and Marine Le Pen. The gold price could decrease upon a Macron victory, signalling stability and the status quo, or soar under a Le Pen victory, indicating further upheavals and regime change on the continent following the Brexit vote.

Although geopolitical anxiety over North Korea has calmed slightly, there are still concerns as rhetoric continues. “North Korea [has] produced a video with missiles annihilating the U.S.” reported the Zaner Group. Russian bomber groups have also carried out exercises near the Alaskan border.

According to Reuters, holdings of the world’s largest gold-backed exchange-traded fund, New York-listed SPDR Gold Shares, rose 11.8 tonnes on Wednesday for their biggest one-day inflow since September. “While the metal is well positioned for a test of $1,300 with geopolitical concerns underpinning its safe-haven status, the failed tests of $1,290 are beginning to weigh upon investor confidence,” precious metals provider MKS said in a note.

In other news, an Australian woman was given the option to choose between $2 million worth of gold bullion or a $2 million penthouse in Sydney, following a victory in a raffle. She has ten days to decide.

Back in England, the hoard of gold found in a piano in Shropshire, which we reported on a couple of weeks ago, has officially been deemed treasure. According to the BBC, the discovery was made in Shropshire before Christmas when the piano’s new owners had it re-tuned and repaired. Shrewsbury Coroner’s Court decided the find qualified as treasure, which means ownership now lies with the Crown. It will be offered for sale to museums. The tuner who found the hoard and Bishops Castle Community College, which owns the piano, will share the profit.

Link to this article: : http://www.goldmadesimplenews.com/gold/gold-steady-ahead-of-french-election-first-round-13089/

Posted by on Apr 21 2017. Filed under Gold News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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