Gold steady near 2-month highs on N. Korea tensions

Gold steady near 2-month highs on N. Korea tensions

Gold steady near 2-month highs on N. Korea tensions

The North's threat came hours after US President Donald Trump warned that any threat by North Korea to the US will be met with "fire and fury".

The dollar has continued its weakening, after concerns over North Korea.

"I do think I expect inflation to also start to move higher in the medium term but probably not get all the way back to 2-percent on a year-over-year basis, because, remember, we've had these very weak inflation readings for a number of month", Dudley said.

"There's not a fundamental reason why what we're seeing out of North Korea right now should affect stock market prices, but it's being used as the reason to sell off right now because we've been looking for it for so long", Schiegoleit said. "His sick mind and reckless conduct could consume the lives of millions".

The price of gold also surged for the second day in a row as the December bullion contract advanced US$10.80 to US$1,290.10 an ounce.

U.S stocks are set to open deep in the red (-0.3%). The Dow slid 0.2 per cent to 22,085.34.

Southwestern Energy Company (NYSE:SWN): Are Traders Shorting This Stock?
Southwestern Energy Company is an energy company engaged in natural gas and oil exploration, development and production. Advantus Capital Management Inc increased its position in shares of Southwestern Energy by 1.8% in the first quarter.

The Dow slumped 204.69 points, or 0.9%, to 21,844.01, while the S&P 500 dropped 1.5% to finish at 2,438.21.

Other markets: Asian markets had another tough day (http://www.marketwatch.com/story/asian-markets-extend-selloff-in-face-of-north-korean-crisis-2017-08-10), while the Hong Kong Hang Seng Index and the South Korea Kospi dropped 2.5% and 3.2%, respectively, for the week.

The Nasdaq composite lost 18.13 points, or 0.3 percent, to 6,352.33.

USA productivity data had little impact with some caution ahead of Friday's inflation data.

Uncertainty over North Korea also reverberated in the foreign exchange market, where safe-haven currencies such as the Japanese yen and Swiss franc rallied.

The Japanese yen hit an eight-week high against the USA dollar, while spot gold also reached a two-month high.

Trading Radar: Zooming in on Shares of Royal Dutch Shell plc
Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend. The Average Volume of the company is 1.82 Million, while the Volume of the company in the last trading session was 1.17 Billion.

Still, he said, "the Washington, D.C., bedlam and North Korea's saber-rattling is muddying the broader landscape".

Data on Friday showed US consumer prices rose less than expected in July, which was also supportive to gold. The EUR/JPY was down 0.54% to trade at 128.924 Yen while the GBP/JPY was down 0.58% to trade at 142.489 Yen.

Sterling was little changed against the greenback at close to a 2-1/2-week low, having lost around two per cent since the Bank of England last week voted 6-2 to keep interest rates on hold at their record lows. The stock fell $3.30 to $30.09.

The dollar was steady against a basket of six major currencies at 93.385 after falling 0.2 per cent on Thursday, with disappointing United States inflation and jobs data adding to the greenback's woes.

They were down 0.7 per cent at $48.24 per barrel, on track for a weekly loss of 2.7 per cent.

Everton back in for Fiorentina's Nikola Kalinic, would cost £23m
Everton may however have to look elsewhere for a new striker as it looks more likely that the player will join Milan. He will consider an offer from Everton this month if AC Milan do not manage to agree a deal with La Viola.

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