Gold steady near 2-mth highs as N. Korea tensions continue

Gold steady near 2-mth highs as N. Korea tensions continue

Gold steady near 2-mth highs as N. Korea tensions continue

The yen strengthened above JPY109 for the first time since mid-June and oil extended overnight losses on persistent worries about oversupply, while gold prices hit their highest level in over two months.

Nvidia's quarterly revenue in its data center and automotive businesses missed estimates, dragging the chipmaker's shares down 3.90 percent.

US crude oil futures settled almost 2 per cent lower at $48.59 a barrel, as Russian Federation considered a future output resumption and the Organization of the Petroleum Exporting Countries boosted its July production numbers.

The dollar index fell 0.32 percent, with the euro up 0.42 percent to $1.1819. For the week, the index lost over 3% to register its biggest weekly loss since February of 2016. Trump's comments followed reports that the North has mastered a technology needed to strike the United States with a nuclear missile. This morning gold had reached $1,286.33 while gold for delivery in December rose 0.8% to $1,290.10. Geopolitical risks can boost demand for assets considered safe-haven investments, such as gold. They have soared over 2 percent in the previous two sessions, and are set for a weekly gain of 2.25 percent. "If you think this is just rattling sabers, and it's just words, then you could view this as a buying opportunity".

At a briefing on opioid addiction at his golf course in Bedminster, N.J., Trump warned North Korea not to make any more threats against the United States, adding that North Korea would be "met with fire and fury like the world has never seen".

23 killed in floods and landslides in Nepal
Jhapa, Morang Sunsari, Sapttari, Siraha, Sarlahi, Rautahat, Banke, Bardiya and Dang were the worst affected by flood. The District Natural Disaster Rescue Committee has distributed dry foods to victims in the flood-hit areas.

North Korea raised the stakes further on Thursday with a detailed plan to send a salvo of missiles towards the US Pacific territory of Guam. It has been more than a year since the last 5% downdraft in stocks and more than 76 weeks since the stock market suffered a 10% loss.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,442 as of 2:43 p.m. ANZ fell 1.9%, Commonwealth shed 0.7% and Westpac declined 1.3% after RBA Governor Philip Lowe said the central bank is prepared to be patient on rates for quite some time.

On Friday, President Trump tweeted that U.S.

BIG GAINERS: Health care stocks were among the big gainers. It has been the leading S&P gainer so far this year, making it particularly vulnerable to a decline.

The recovery fit a recent pattern of investors using dips to put more money in stocks.

Tropical Depression Eight forecast to become tropical storm Gert
Check back with us at for the latest on this, and everything in the tropics this hurricane season. The system was expected to continue heading to the northwest Friday, then turn north over the weekend.

Flight-to-safety moves pushed up the value of classic assets perceived as safe, including the franc, the Japanese yen and gold prices after North Korean leader Kim Jong Un made an explicit threat to strike a USA military base in Guam.

"The VIX index of implied future volatility on the S+P 500 index (the so-called 'fear index), jumped to a three-month high of over 15, and we saw growth-orientated stocks under-perform their value counterparts across developed stock markets".

Shares of staffing firm Adecco slumped 6.4 per cent after its results.

Declining issues outnumbered advancers on the NYSE by 1,339 to 865.

Federer punches ticket to Montreal semis
The 36-year-old Swiss will next face unseeded Dutchman Robin Haase , a 4-6, 6-3, 6-3 victor over Diego Schwartzman of Argentina. Federer said he knows Haase well from serving with him on the ATP player council and from practising together.

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