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vegassports-odds.com August 24, 2017


United States dollar jumps amid Trump North Korea nuclear war worrries

12 August 2017, 10:43 | Melvin Schneider

Gold up on rising US-North Korea tensions

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Investors' unease over escalating tensions between the US and North Korea pushed gold and bond prices higher. Japan's Nikkei 225 Index edged down by 0.1 percent, while Hong Kong's Hang Seng Index tumbled by 1.1 percent. While the U.K.'s FTSE 100 Index has slumped by 1.5 percent, the German DAX Index is down by 1.1 percent and the French CAC 40 Index is down by 0.8 percent.

Biotechnology stocks are turning in some of the market's worst performances in morning trading, resulting in a 1.6 percent drop by the NYSE Arca Biotechnology Index.

Investors have been jittery about North Korea since Tuesday when Trump said any threats from Pyongyang would be "met with fire and fury like the world has never seen".

After being undermined by strong United States data, gold reversed sharply to scale 8-week highs as tensions surrounding North Korea increased sharply.

"Although we're seeing some flight to safe havens, it seems that it's more of a risk consolidation".

Market sentiment remained largely in risk-off mood on Thursday as the latest escalation of tension between North Korea and the United States showed no sign of dissipating.

"We're still close to the all-time high so that makes people a little nervous too, so they might say now might be the time to take a little bit of money off the table".

"I will tell you this, North Korea better get their act together or they're going to be in trouble like few nations ever have been in trouble in this world", Trump said. Gold is now beating U.S stocks year to date, as well, with hedge fund legend Ray Dalio recommending that investors dedicate 5 to 10 percent of their portfolios to the precious metal.

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Global stock markets are firmly in the red after another escalation of tensions between North Korea and the United States. Navy base that includes a submarine squadron and an air base. "I think a few investors are capitulating to it".

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Japanese markets were closed for a holiday, but the tense mood dragged Asian shares lower and an MSCI index of stocks across the globe .miwd00000pus was on track to post its largest weekly drop since the week before Donald Trump won the USA presidential election in November. It is now on track for its biggest weekly drop since the week before the November 8 USA presidential election. "Hard to assess political risk is now intruding on this scenario". The euro touched a one-month low of 128.19 yen earlier on Friday.

CURRENCIES: The dollar slipped to 109.48 yen from 109.85 late Wednesday.

"On many occasions, we've also heard from the Russians, and from Russian oil producers, that once the deal is complete and free production reigns again that Russia will prime the pump", said Greg McKenna, an analyst at AxiTrader. In bond markets, 10-year US Treasuries and Germany's ultra-safe government bonds were trading at their highest prices since June.

Korea's Samsung Electronics fell 2.8% Friday. The WSJ dollar index, which measures the greenback against a basket of currencies, was flat.

Gold prices XAU= rose 0.2 percent to $1,287.30 an ounce, after surging over 2 percent in the previous two sessions to a two-month high. Spot gold was up 0.1% at $1,287 per ounce by 2.17pm GMT, set for its biggest weekly gain since April.

OIL: Benchmark U.S. crude added 7 cents to $49.24 a barrel on the New York Mercantile Exchange.

Crude oil prices fell on Thursday, on concerns of lingering global oversupply as Russian Federation considered a future output resumption and OPEC boosted its July production numbers.

The technology sector .SPLRCT was the S&P's biggest drag with a 2.2 percent drop.



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