Gold Shines As US-North Korea Tensions Mount - Finance News

Gold Shines As US-North Korea Tensions Mount - Finance News

The Nikkei slumped to its lowest close for nearly three months Wednesday, leading an Asia-wide sell-off sparked by President Donald Trump's apocalyptic warning over North Korea's weapons program.

Nevertheless, the geopolitical uncertainty looks set to continue, dealers said, following Trump's fresh warning Thursday that his earlier threat to unleash "fire and fury" on the reclusive nuclear-armed state may not have been "tough enough".

Fawad Razaqzada of Forex.com told Reuters "the war of words between the leaders of the USA and North Korea continue to dominate investor sentiment". Japan's Nikkei 225 Index edged down by 0.1%, while Hong Kong's Hang Seng Index tumbled by 1.1%.

August 11, 2017 (Investorideas.com Newswire) This week's increase in tension between North Korea and the US over North Korea's nuclear missile programme is a timely warning for investors to remain diversified, affirms a leading analyst.

BAD TRIPS: Priceline Group slid 8.2 percent after the online travel booking service issued a profit forecast that was weaker than analysts were expecting.

Gold was up $3 at $1293 an ounce, adding to 2-month highs.

Rising costs for housing, medical care and food helped push the Consumer Price Index (CPI) up 0.1 percent in July, seasonally adjusted, after no change in June and a 0.1 decrease in May, the US Labor Department said. US -traded Nikkei futures fell 2 percent to their lowest since mid-May.In currencies, the yen rose 0.8 percent versus the greenback at 109.2 per dollar, the strongest level for the Japanese currency since mid June."The yen is the big story really".

The S&P 500 dropped the most since May and MSCI's gauge of stocks across the globe .miwd00000pus lost 1.1 percent in its third straight day of declines, as it pulled further back from all-time highs.

More news: Rory McIlroy still out of tune at PGA Championship

The dollar index, which tracks the greenback against a basket of six major rivals, was almost flat on the day at 93.646, remaining above last week's 15-month low of 92.548.

The South Korean won slipped 0.8% against the greenback, with one dollar buying 1,139.71 won on Wednesday morning. The Russell 2000 index of smaller-company stocks picked up 1.69 points, or 0.1 percent, to 1,374.23.

Shares of USA department stores Kohl's and Macy's were weak after their results.

Benchmark 10-year notes last rose 5/32 in price to yield 2.2255 per cent, from 2.242 per cent late on Wednesday.

France's CAC dropped 1.6 percent and Germany's DAX fell 1.3 percent. Meanwhile, after jumping $10.80 to $1,290.10 an ounce in the previous session, gold futures are climbing $6.50 to $1,296.60 an ounce. Against the euro, the dollar is valued at $1.826 compared to yesterday's $1.1772.

The index was also dragged lower after Beijing ordered probes into three major Chinese social networking platforms over outlawed content.

US crude shed 20 cents to $48.97 a barrel, while Brent crude fell 26 cents to $51.88 a barrel.

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