Gold On Verge Of $1300 After North Korea Threats

Traders on the floor of the New York stock exchange after Donald Trump's US election victory 9 November 2016

Image Wall Street has also seen sharp falls

"A global stock market fund will have its fair share of value and growth companies, unlike -say- the FTSE 100 index which is predominately value-orientated with its bias towards energy, mining and financial, or the Japanese TOPIX which is growth-orientated with a predominance of consumer goods companies".

August 11, 2017 ( 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. Today, the TICK opened at 1,050, headed higher but then dropped below 1,000 again.

S&P 500 e-minis were down 4.5 points, or 0.18 percent, with 209,543 contracts traded. The Dow Jones industrial average gained 46 points, or 0.1 percent, to 21,890.

Gold rose 0.6 per cent to $1,268 an ounce.

"While not necessary unexpected - as the USA had to respond to threats made by North Korea that they will fire rockets due to land just off the coast of Guam soon - new comments by Trump propelled stocks lower". Japan and South Korea vowed a strong reaction if the North were to go through with the plan. U.S. Secretary of State Rex Tillerson said he did not believe there was an imminent threat.

The hope that the Fed will have to slow its rate increases appeared to stop, at least for now, the near US$1 trillion loss in world stocks valuations this week triggered by the war of words between Pyongyang and Washington.

Emerging market stocks lost 1.28 percent. It was up about 2 percent for the week so far.

Retailers were also falling Thursday.

France's CAC dropped 1.2 per cent and Germany's DAX fell 1.1 per cent. Macy's slumped 10 percent after reporting its 10th straight decline in a key sales measure. On the Nasdaq, 1,462 issues rose and 1,227 fell. Its shares tumbled $11.35 to $61.99. Rival Advanced Micro Devices was also down 3.4 percent. The 30-year bond was last up 4/32 in price to yield 2.7871 per cent, from 2.794 per cent late on Thursday. The contract shed 22 cents on Tuesday to close at $49.17.

In commodities trading, crude oil futures are slipping USD0.10 to USD48.49 a barrel after tumbling USD0.97 to USD48.59 a barrel on Thursday. By the end of the day almost $1 trillion in equity had been lost globally.

Similarly, Andy Schectman, president of Miles Franklin, shared why he thinks the market is setting up for a major gold uptake.

It stood 0.16 percent down on the day at 109.03 yen per dollar by 1047 GMT. It is poised to end the week down 1.9 percent. Earlier in Asia, Japan's benchmark Nikkei 225 slipped less than 0.1 percent, while Hong Kong's Hang Seng slid 1.1 percent.

The pan-European FTSEurofirst 300 index lost 1.06 percent and MSCI's gauge of stocks across the globe shed 0.17 percent.

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