Sales of gold bars rising amid rising tension on peninsular

Sales of gold bars rising amid rising tension on peninsular

Global markets have been on edge since Tuesday, when President Trump warned North Korea of severe retribution should the authoritarian state proceed with any more missile tests or threats.

Marco Rubio, a member of the Senate foreign affairs committee, defended President Donald Trump's stark warning to North Korea in a series of tweets Thursday morning.

"If the market truly believed the North Korea reaction was imminent, I think it would be down a lot more than it is", said Alan Skrainka, chief investment officer at Cornerstone Wealth Management. North Korea responding with a threat to United States territory after Trump warned them not to threaten the United States was never going to go down well.

But are investors really nervous about a possible military conflict with Kim Jong Un?

On the USA economic front, a report released by the Labor Department showed a modest uptick in consumer prices in the U.S.in the month of July.

Head of commodity strategy at Saxo Bank, Ole Hansen, told Reuters he sees further rises for gold, albeit under a ceiling: "The market hates uncertainty and that's certainly what we have now".

Excluding food and energy prices, core producer prices still dipped by 0.1 percent in July after creeping up by 0.1 percent in June. Economists had expected another 0.1 percent uptick.

Investors also drew some encouragement from new government data showing US inflation at the consumer level inched higher last month. The pan-European STOXX 600 hit its lowest level since the end of March, down 1.1%.

The major averages ended the session just off their worst levels of the day.

The three main indexes were all down Wednesday with the Dow Jones industrial average off 36.64 points, or 0.17%, at 22048.70 points, the Standard and Poor's 500 losing 0.04% at 2474.02 points and the Nasdaq composite giving back 0.28% at 6352.33 points.

"That reset is being triggered by North Korea geopolitical concern and stretched valuations", said Peter Kenny, senior market strategist at Global Markets Advisory Group, New York.

The Nasdaq finished the day at 6,216.87, a slide of 135.46, while the S&P 500 lost almost 1.5 percent, ending the day at 2,438.21. Japanese markets were closed for a holiday.

Overseas markets were also lower Wednesday.

Despite that, as of 1207 BST the FTSE 100 was trading lower by 1.25% or 92.60 points to 7,297.51.

In commodities trading, U.S. crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut.

Spot gold added 1.2 per cent to US$1,275.60 an ounce.

Escalating tensions around Pyongyang's nuclear ambitions sent a shiver through markets worldwide and pushed the dollar to below 109.7 yen in afternoon forex trade to an eight-week low against the safe haven currency, piling more pressure on Japanese stocks. Against the euro, the dollar is valued at $1.826 compared to yesterday's $1.1772.

Artículos relacionados

  • Rory McIlroy strings together eye-popping sequence at PGA Championship

    Rory McIlroy strings together eye-popping sequence at PGA Championship

    Paul Casey was among those at 69, while Dustin Johnson, Jason Day and Hideki Matsuyama were in the large group at 70. However, a double bogey on the tough No. 3 par-4 set him back in an otherwise solid over-par round.
    Premier League Predictions: Arsenal kick off new season vs. Leicester

    Premier League Predictions: Arsenal kick off new season vs. Leicester

    In Skopje, with the back three in place, Pogba had a few bright moments on the counter but largely struggled to have an influence. Jack Cork is also pencilled in for a debut in midfield but Phil Bardsley is not fully match fit and may be made to wait.
    War of the managers: Conte replies Wenger over Chelsea squad size

    War of the managers: Conte replies Wenger over Chelsea squad size

    Spurs coach Mauricio Pochettino has developed Rose into a quality full-back, but their relationship is said to now lack "warmth". Rose switched to London from Leeds United in 2007 and has seen his stock consistently rise over the past seasons.
  • Lawmakers plan to meet after school-funding veto

    Lawmakers plan to meet after school-funding veto

    The Chicago parents seek an injunction barring the state from adopting a non-evidentiary based school funding model. He says the schools were supposed to receive state aid payments on August 10th but they didn't come through.
    Where Ezekiel Elliott and Sammy Watkins are moving in the rankings

    Where Ezekiel Elliott and Sammy Watkins are moving in the rankings

    All you have to do is compare Watkins's career stats to Matthews's to see that Taylor's fantasy value takes a hit as well. They changed the latter component earlier today by trading for Sammy Watkins .
    I Won't Moan, 75% Is Fine - Jose Mourinho Assesses Transfer Market Activity

    I Won't Moan, 75% Is Fine - Jose Mourinho Assesses Transfer Market Activity

    The danger for Chelsea is that the harmonious atmosphere re-established by Conte after Mourinho's bitter departure is eroded. Lukaku guarantees goals for Mourinho , having been second highest scorer in the Premier League last season for Everton .
  • Gorakhpur tragedy: BSP demands resignation of CM Yogi Adityanath

    Gorakhpur tragedy: BSP demands resignation of CM Yogi Adityanath

    On Friday state health minister Siddharth Nath Singh said,"What media has reported it does not appear same to us". Meanwhile, the local government denied deaths of the children due to lack of oxygen cylinders in the hospital.
    Full Motorola X4 specs and press images leak ahead of launch

    Full Motorola X4 specs and press images leak ahead of launch

    Under the hood, customers will receive a Qualcomm Snapdragon 427 processor, accompanied by 16GB of storage and 2GB of RAM . As mentioned, the phone is rumored to sport a 5.2-inch 1080p AMOLED display , which, again, is a pretty sweet deal if true.
    Markets slide, dollar slumps as North Korea fears spike

    Markets slide, dollar slumps as North Korea fears spike

    In Frankfurt, chemical distributor Brenntag sank 6.81 percent after its second-quarter results fell short of market expectations. The dollar strengthened against the Swiss franc on Thursday, buying 0.9642 franc compared to 0.9636 franc late Wednesday in NY .
  • Jon Jones Says He's

    Jon Jones Says He's "Serious" About Fight with Brock Lesnar — UFC

    Obviously, there are many factors that will have to be overcome before a Jones-Lesnar showdown can be cemented. Then he sustained a series of sharp jabs at the hands of opponent Jones , several when he was already down.

    What to Look For When Buying Eclipse Glasses

    Law enforcement officials are discouraging residents from driving and stopping on the side of a highway to view the eclipse. Total solar eclipses will cross the continental USA twice more in the next 30 years, on April 8, 2024, and August 12, 2045.
    Merson:

    Merson: "Arsenal would let Sanchez go to PSG tomorrow"

    But of course at the moment I have 33 players [in the squad] and it's very hard to manage, on a daily basis, such a high number. All our players got a decent number of minutes of good competition, so overall the preparation of the squad looks good.