Spot gold was trading at $2,384.14 per ounce at 9.25 am UAE time, up 0.17 per cent
President Emmanuel Macron expressed confidence on Friday that there would be an end to the political deadlock in France that has followed the loss of his parliamentary majority, saying the situation was no different to those of other EU countries.
Macron has been on the back foot politically after his governing coalition lost its overall majority in Sunday’s vote, even if it remained the largest group in the National Assembly.
But in comments after an EU summit in Brussels — which followed an address to the nation on Wednesday — Macron appeared unruffled by the situation and said the government could either agree a coalition deal with other parties or agree to support laws on a bill-by-bill basis.
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“I believe we will do what Italy and Germany are doing... to be able to build either a coalition or agreements on bills to move forward on a clear agenda,” he said.
“France understands compromise, including your humble servant,” he said.
“I am very confident because I believe in the good will of the women and men who are there to represent the nation,” he added.
The election was marked by strong performances for the far right under Macron’s presidential re-election rival Marine Le Pen, as well as for the hard left under left-wing coalition leader Jean-Luc Melenchon.
Analysts have said that the situation risks stymying Macron’s plan to raise the retirement age in France to 65 from 62, and could also undermine his status as a European leader on the world stage.
The new parliament will convene for the first time on Tuesday.
Spot gold was trading at $2,384.14 per ounce at 9.25 am UAE time, up 0.17 per cent
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