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Gold Prices Edge Up on Syria Concerns -

 Gold prices edged up on Friday, with the ongoing tension over Syria cited as supportive for the yellow metal. Prices gained on tensions over Syria. However, U.S. president Trump said later on Thursday that the attack on Syria “could be very soon or not so soon at all” sent the dollar firmer earlier in the day and weighed on the dollar-denominated gold. The dollar tumbled to 89.09 overnight as U.S. trade outlook remained uncertain despite improving risk appetite amid the easing geopolitical worries over Syria, but gradually recovered on Thursday late morning.  Dollar-denominated assets such as gold are sensitive to moves in the dollar – a gain in the dollar makes gold more expensive for holders of foreign currency and thus decreases demand for the precious metal. 

Copper dropped as the threat of imminent U.S. military action in Syria rattled investors -

Copper on MCX settled down -0.48% at 448.6 after U.S. President Donald Trump warned Russia of imminent military action in Syria over a suspected poison gas attack. Labor negotiations at some of copper’s key mines this year will not necessarily follow similar paths in terms of contract settlements. So far this year China's physical copper imports have held up pretty well. Tighter regulations have caused imports of copper scrap to drop by 40 percent, but that should translate into higher import demand for copper in other forms.

 Zinc dropped tracking LME Zinc prices as construction demand in China got off to a slow start in the usually strong second quarter -

Zinc on MCX settled down -3.99% at 202.10 on long liquidation and fresh selling on rising fears with new supply seen with fresh from talk that China's State Reserve Bureau had been selling zinc stockpiles. The metal, mainly used to galvanize steel, has more than doubled since hitting multi-year lows in January 2016 after the shutdown of major mines including Australia's Century, the Lisheen mine in Ireland and top producer Glencore's depleted Brunswick and Perseverance mines in Canada. Also prices seen pressure tracking the prices of other steel materials as construction demand in China got off to a slow start in the usually strong second quarter.

Oil eases as Trump backtracks on imminent Syria strike -

Oil prices edged lower on Friday after U.S. President Donald Trump tempered remarks warning of an imminent missile attack on Syria, but were still set for their biggest weekly gains in more than 8 months.Both benchmarks are set for their biggest weekly gains since last July after surging to a more than three-year high earlier in the week on tensions over Syria and shrinking global oil inventories. "This last jump of $5 or so is because of the geopolitical situation caused by the situation in Syria," said Tony Nunan, senior oil risk manager at Mitsubishi Corp in Tokyo. "It looks like Trump backed off a little bit and wants to build a coalition, sending a signal to the broader market that he is going to be much more careful than people thought."

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