Gold prices have fluctuated within a range of $1,788.70-1,794.39 per ounce and have not moved up much. Due to pressure from China and Russia, the United Nations Security Council (UNSC) is pushing for an easing of sanctions against North Korea.
The motion for the UN Security Council, which includes 15 member states, can lift these boycott measures with the goal of improving the lives of people in North Korea. North Korea has faced UN sanctions since 2006 due to the impact of the country’s nuclear and missile programs.
While the Dow Jones Index, S&P500, and NASDAQ all hit new highs last night.
However, the gold price also received some support as U.S. economic data fell short of analysts’ expectations.
In addition, inflation in South Korea reached its highest level in almost 10 years in October.
The National Bureau of Statistics of South Korea reported today that the Consumer Price Index (CPI), increased by 3.2% in October. This was due to the impact of last year’s low base of comparison.
Today, the Purchasing Managers’ Index (PMI) figures for final manufacturing in October for Germany and the EU will be published.