Gold settles at 2-month high amid geopolitical tensions

President Donald Trump speaks in the Roosevelt Room of the White House in Washington Wednesday Aug. 2 2017

US Defence Secretary Jim Mattis, who often has emphasised the devastating costs of any conflict with North Korea, seemed to back up Trump's tone.

Trump's comments came after a Washington Post report (https://www.washingtonpost.com/world/national-security/north-korea-now-making-missile-ready-nuclear-weapons-us-analysts-say/2017/08/08/e14b882a-7b6b-11e7-9d08-b79f191668ed_story.html?utm_term=.0938becb046e) that North Korea has built a miniaturized nuclear warhead. "Hopefully Kim Jong Un will find another path!"

Earlier in the session, it marked its highest since 8 June at $1,288.92 an ounce. The Nasdaq composite fell 35 points, or 0.5 percent, to 6,336.

Equities in Asia were trading mixed in Thursday's trade, although geopolitical tensions continue to weigh on the Asian equities.

North Korea had announced a detailed plan to launch a salvo of ballistic missiles toward the U.S. Pacific territory of Guam, a major military hub and home to U.S. bombers. Trump said that further threats would be met with "fire and fury like the world has never seen".

"They've been doing this to our country for a long time, for many years, and it's about time that somebody stuck up for the people of this country and for the people of other countries", Trump said.

"I think what the President was doing was sending a strong message to North Korea", Tillerson said.

The focus on North Korea largely overshadowed a Labor Department report showing an unexpected drop in United States producer prices in the month of July. Core prices had been expected to rise by 0.2%.

Shares of Manulife, which reported better-than-expected results, fell after the company played down talk of a John Hancock spin-off. The index bounced off its lowest closing level in six months.

Stocks going ex-dividend included BT, Royal Dutch Shell, BP, Lloyds, and pharma companies GSK and AstraZeneca, taking around 41 points off the index.

"There is a low probability that we will have a war with North Korea", he said, and a larger pullback in stocks is "a buyable drop". It is poised to end the week down 1.7 percent.

Gold prices turned higher after unease over North Korea, reversing the downward move after the jobs data lifted the dollar.

Crude oil futures are slipping USD0.10 to USD48.49 a barrel after tumbling USD0.97 to USD48.59 a barrel on Thursday.

Microsoft also managed to avoid market selloff with a 0.5 percent increase. The Japanese markets were closed for a holiday.

'Tell my family I love them'
Passer-by J Tompkins is filmed stopping to help Smith, who is heard saying: "I can barely breathe, tell them to hurry up". The footage begins with Smith pursuing the suspect on foot, first ordering him to stop and then threatening to taser him.

USA equities had been on track for a 10th-straight record session Tuesday and the dollar was initially up after the JOLTS survey showed job openings hit a record in the U.S. last month.

The president said "things will happen to them they never thought possible" should Pyongyang attack the USA or its allies.

Meanwhile, gold demand in India remained sluggish this week as local prices jumped to their highest level in almost three months and a rally in global prices dampened fresh buying elsewhere in Asia. Hong Kong's Hang Seng added 0.6 percent.

Australian shares fell to near three-week lows in a broad-based selloff.

Gold miners Randgold Resources and Fresnillo closed as the top two gainers in London's blue-chip index, ending up 1.9% and 4.9%, respectively.

Nvidia also guided for an above-consensus third quarter. Consumer-focused companies and banks were among the biggest decliners.

The biggest fallers were Standard Life down 16p to 410.8p, Rio Tinto down 109.5p to 3,370p, Old Mutual down 6.2p to 195.3p, Anglo American down 39p to 1,238.5p. The benchmark Kospi tumbled 39.76 points or 1.7% to 2,319.71, its lowest level since May 24th.

For the week, the London index is looking at a 2.4% drop, which would be its biggest weekly loss since April.

Rising tensions between North Korea and the United States were once again the theme of the day with only the release of much-awaited inflation figures out of the USA managing to divert attention away from developments on that front.

Traders are expecting a 50 point drop in the top flight index to 7,349 at the opening bell.

However these stocks - along with tech giants Microsoft and Alphabet, Google's parent - have been among the top performers all year. The country previously threatened a further "all-out war, wiping out all the strongholds of enemies, including the USA mainland" in a government statement.

Markets are now awaiting USA consumer price data for July, due later in the session.

Losses at the Snapchat parent ballooned to $443 million in the second quarter, a almost fourfold increase from the same period previous year.

The Federal Reserve's hint about unwinding balance sheets, the possibility of the European Central Bank tapering stimulus and the looming debate about the US debt ceiling in the fall challenge the market's recent performance, Mr. Baele said.

Related:

  • U.S.  government personnel in Havana report

    U.S. government personnel in Havana report "incidents" causing physical symptoms

    The Cuban government denied involvement in the incident, saying it would never allow actions against diplomats and their families. It also called the decision to expel Cuban diplomats "unjustified and baseless".
    AIADMK factions likely to come together before Aug 15

    AIADMK factions likely to come together before Aug 15

    The AIADMK meeting also scrapped all appointments of office bearers and decisions made by Dinakaran, isolating him in the party. All these developments incidentally alarmed the BJP, which instructed both the factions to immediately merge.
    JD(U) rift wide open: Sharad Yadav says he is still with Mahagathbandhan

    JD(U) rift wide open: Sharad Yadav says he is still with Mahagathbandhan

    And they are with me", Yadav said, while addressing the gathering in Sonepur , his first stop of the three-day tour. Insiders told this newspaper that JD (U) national president Nitish Kumar may take disciplinary action against Mr.
  • Deaths Reported After Balloon Obesity Treatments

    Deaths Reported After Balloon Obesity Treatments

    The patients all went under the knife earlier this year to get FDA-approved liquid-filled balloons fitted in a bid to lose weight. The liquid-filled intragastric balloon systems have been used as a treatment for obesity, said the FDA alert issued on Thursday.
    Music star Glen Campbell dies

    Music star Glen Campbell dies

    The show's also your chance to relive numerous highlights from Glen's network TV variety show, The Glen Campbell Goodtime Hour. By the mid-1990s he'd taken up residence at the Glen Campbell Goodtime Theatre in Branson, Mo., where he performed regularly.

    Scaramucci to grant interview amid a 'den of lions'

    Colbert said he plans to ask Scaramucci what it's like inside the Trump White House and "how loyal he feels the president is now". U.S. talk show host Colbert warned the censors to get ready as he announced Monday's guest on Twitter .
  • Facebook's New Video Platform Could Be Big for Travel Agents

    Facebook's New Video Platform Could Be Big for Travel Agents

    Facebook has said that it is introducing the platform to a limited group of publishers in the U.S. Watchlist feature of the tab will help users to easily follow their favorite shows.
    Stroud is one off lead at PGA Championship

    Stroud is one off lead at PGA Championship

    The moment that summed up Spieth's day with the putter best (or is it worst)? "This week, I worked hard on it and I got a lot of confidence in the driver".
    President Zuma survives vote of no confidence

    President Zuma survives vote of no confidence

    In the past, Zuma had survived repeated revolts against his leadership from within his own party, but none in secret. Maimane's Democratic Alliance said it would table a motion for early elections to be held in parliament on Thursday.
  • Wonder Woman: Warner Bros. Announces Blu-ray Release Date And Special Features

    Wonder Woman: Warner Bros. Announces Blu-ray Release Date And Special Features

    Warner Brothers has announced Wonder Woman will arrive on DVD, Blu-ray, and digital streaming beginning later this month. The Blu-ray Combo Pack features the movie on Blu-ray and a digital version of the movie in UltraViolet Digital HD.
    NYPD officer's bulletproof vest saves his life in Brooklyn shooting

    NYPD officer's bulletproof vest saves his life in Brooklyn shooting

    The mayor and police commissioner showed off the vest during a news conference and credited it with saving the officer's life. Police said officers were responding to a report of an emotionally disturbed person when a man opened fire.
    $725 a night to stay in Trump's former home

    $725 a night to stay in Trump's former home

    Donald Trump lived there from birth until the age of 4, when his family moved on to a bigger home. The listing bears a green insignia indicating it was "verified" by the website.

Comments

Latest news

On second day, Nawaz Sharif's rally gets mixed response
Lawmaker Shahid Khaqan Abbasi replaced the three-time prime minister Sharif after the Supreme Court's July 28 ruling. The election on the National Assembly seat will be held on September 17.

BMW plunges 7 floors from downtown parking garage
In previous months, two drivers found themselves hanging on the side of the garage. This wasn't the first time a auto has fallen from this garage.

Arsenal vs. Leicester City 2017 live stream
Arsenal and Arsene Wenger avoided disaster to end last season, saving a fifth-place finish with an FA Cup trophy. Predicted XI: Cech; Holding, Mustafi, Monreal; Bellerin, Xhaka, Elneny, Kolasinac; Welbeck, Iwobi, Lacazette.

Philadelphia Eagles trade WR Jordan Matthews and draft pick for Bills cornerback
Jones was already our pick for Buffalo's breakout player this year, but his outlook improves even more now. He is now dealing with knee tendinitis, which kept him from practicing for a good portion of the spring.

US Consumer Prices Rose Slightly in July
Over the past 12 months, wholesale prices are up a moderate 1.9 percent, while core prices have risen 1.8 percent. The Fed meets again in September.

Snap added fewer users and made less money than Wall Street expected
As Snap becomes cheaper, the company could be attractive to acquirers, said Shebly Seyrafi, an analyst at FBN Securities. Cleveland Research lowered shares of Snap from a "buy" rating to a "neutral" rating in a report on Tuesday, July 25th.

Trump Wants to Arrest His Way Out of the Opioid Overdose Crisis
But if they dont start, it will never be a problem.”. "If this is not a national crisis, I don't what is", Jacobs said. Trump has also asserted that his proposal border wall would stop the flow of drugs into the country from Mexico .

Chicago Bears Rookie Quarterback Poses For A Photo With Miss Illinois
But the same word can not be said about Denver's two quarterbacks competing for the starting job. Thursday, he played so poorly - and Trubisky so well - that he was forced to confront it again.

Smugglers Throw Nearly 300 Refugees Into Yemen Sea
On Thursday, IOM reported that another smuggler forced some 160 people from a second boat, this time closer to shore. Crossing the Gulf of Aden and Red Sea is particularly risky because of strong currents and high winds.

32 hurt, 2 seriously as tremors strike Xinjiang
The dead included eight tourists, two residents and nine whose identities have yet to be confirmed, state television said. Geological Survey reported a magnitude-6.5 quake, while state media cited a magnitude-7.0 quake.

LG V30: Dual-camera system confirmed to have record-setting f/1.6 aperture
The normal angle camera will be 1.6 megapixel and the wide-angle 1.3 megapixel, with the module 30 percent smaller than the V20's. It has also been confirmed that the phablet will sport a 6-inch QHD+ OLED FullVision display with 1440 x 2880 pixels resolution.

The questions Google's CEO will have to answer today
Google , like other tech companies, has far fewer women than men in technology and leadership positions. It added that Google threatened employees because of "protected" activities.

Consumer Reports pulls recommendation for Microsoft laptops, tablets
The consumer group says that poor predicted reliability for the Surface range means that it is pulling its "recommended" tag. As such, this is the first year that Consumer Reports has had enough data to estimate predicted reliability for its laptops.

Teenage babysitters put 7-month-old in fridge
Danvers police arrested and charged the two juveniles the following day. "I think it was all foolishness, stupidity", the baby's mother said.

Colossal new dinosaur species gets scientific name
The team chose the second name in honor of a rancher family that housed them during their excavations. The giants measured about 37 meteres long with shoulders 6 metres high, dwarfing Tyrannosaurus rex .

Other news