Gold Prices Hit 2-Month Highs, Defensive Demand Continues
12 August, 2017, 00:50 | Author: Terri Saunders
A Chinese state-run newspaper said on Friday that China should make clear that it will stay neutral if North Korea launches an attack that threatens the United States, but that if the US attacks first and tries to overthrow North Korea's government, China will prevent it doing so.
Gold prices continued to rise after North Korea state media warned its missiles could surround the U.S. territory of Guam in an "enveloping fire" in coming weeks. We would like to recommend buying gold at the current price and more so at correction. "The North Korea situation appears to be the culprit".
Disappointing economic data releases weighed on both sides of the Atlantic today with a negative goods trade balance for the United Kingdom (-0.1% versus expectations of 1.4%), higher unemployment claims from the USA (244,000) and also a negative month-on-month PPI figure for the U.S. (-0.1%). It since drifted back towards the $1.17 level before being pushed up by weak United States data. The news drove investors out of risky assets and into safe-haven assets like gold, U.S. Treasurys and the Japanese Yen. Retail sales through credit cards in New Zealand disappointed as the July figure grew only 2% annually, down from 4.5% in the prior month.
The pound benefited from the euro's weakness via euro/pound cross flows, and was additionally supported by positive United Kingdom data released earlier in the day.
On Thursday the greenback had shed 0.8 percent versus the yen, with the Japanese currency rallying broadly against most major currencies. Disappointment around worse French monthly industrial production in June added negative pressure to the euro.
The yen gained more than 0.2 percent in Asian time as investors took their money out of higher-yielding currency plays following another warning from President Donald Trump to Pyongyang.
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Sterling slid against the dollar below the $1.3000 mark.
Spot gold prices were unchanged at $1,286.27 a ounce, after touching a two-month high earlier. The greenback faced fresh downside pressure after USA producer prices declined the most in 11 months in July.
Sept. WTI oil up 23 cents, or 0.5%, for the session to settle at $48.82/bbl, but were down 1.5% this week.
"What has changed this time is that the scary threats and war of words between the USA and North Korea have intensified to the point that markets can't ignore it", said Shane Oliver, head of investment strategy at AMP Capital in Sydney.
Australian shares were down 1.3 percent, set for a weekly loss of 0.6 percent and Chinese and Hong Kong bluechips lost 1.6 percent and 1.9 percent respectively.
Even with Klopp at the helm, top players regard the five-times European Cup winners as a passport to riches elsewhere. But without their talisman, Liverpool were never the same, and within a year manager Brendan Rodgers was gone.
The Federal Reserve is likely to scale back on its expected pace of interest rate hikes if inflation continues to be soft. The mounting tensions between North Korea and the U.S. took its toll on the market for the third day in a row.
The ministry has judged that it is appropriate to request the USA military take the utmost care for safety when flying Ospreys. The wreckage was found two days later. "The loss of every Marine is felt across our entire Marine Corps family", said Col.
The Redskins have stalwart Ryan Kerrigan as a starter but are presently without a healthy Preston Smith or Junior Galette . He was helped off the field by members of Washington's medical staff and didn't speak to the media after the game.
Secretary of State Rex Tillerson says he doesn't believe there is "any imminent threat" from North Korea, including to Guam. Guam is being used as a pawn in the confrontation between North Korea and the United States, an academic says.
Her grandson Eric Strickler wrote on Facebook: 'You were an fantastic woman and the greatest grandmother anyone could ask for'. There are few details of what exactly happened, but hippos are known as among the most risky land animals on earth.
If that pattern is maintained, they will win the Premier League title this season and that surely has to be the aim of the club . While Tottenham have a stellar starting 11, the back-up options are thin at best and Trippier's injury highlights that.
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That's the message from a national poll released by the nonpartisan Kaiser Family Foundation . The highest: a 49 percent jump in Wilmington, Delaware.
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