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POPULAR NEWS
Gold Set for Weekly Loss as Investors Weigh Fed, Korea

Gold heads for second weekly decline as investors weigh Federal Reserve™s signal for four interest rate increases by end-2018 and plans to reduce bank™s balance sheet against tensions over North Korea. Bullion for immediate delivery added 0.2% at $1,293.95/oz at 8:56am in Singapore: Bloomberg generic pricing. This metal fell to $1,288.20/oz on Thursday, lowest since Aug. 25. Gold lost 2% this week after dropping same amount last week. Bloomberg Dollar Spot Index rose 0.6% this...

British pound drops to two-day low against euro on PM May talks Brexit plan

The British pound weakened against the U.S. dollar and the euro on Friday, as Prime Minister Theresa May revealed details on Britain's ambitious for Brexit in a speech in Florence. Against the dollar, the pound slipped to $1.3495, a new intraday low, while the euro jumped to a two-day high at £0.8874.   Source: Marketwatch

ECB's Draghi: we aren't there yet on inflation

More comments coming out of the ECB President Mario Draghi's scheduled speech at the ECB Youth Dialogue at Trinity College, in Dublin: Key quotes (via LiveSquawk):    ¢  We aren™t there yet on inflation    ¢  We haven™t seen much financial stability risks    ¢  Financial system much more resilient thanks to reforms    ¢  Local imbalances shouldn™t be addressed by monetary policy Meanwhile, the EUR/USD pair quickly retreated around 15-20 pips from session tops...

U.S. stock futures fall after North Korean nuclear bomb threat

U.S. stock futures pointed to opening losses for Wall Street on Friday, as geopolitical tensions returned to the fore after North Korea threatened to test a hydrogen bomb over the Pacific Ocean. Traders were also looking ahead to a trio of Federal Reserve speakers, searching for more details on monetary policy after the central bank™s meeting earlier this week. Futures for the Dow Jones Industrial Average lost 27 points, or 0.1%, to 22,306, while those for the S&P 500 index gave up...

Stocks dip on latest North Korea threat; Dow on track for 2nd weekly gain

U.S. stocks edged lower on Friday, as geopolitical tensions returned to the forefront after North Korea threatened to test a hydrogen bomb over the Pacific Ocean, although the selling was limited as the market™s general uptrend was seen as intact. The Dow Jones Industrial Average dipped 10 points to 22,354, a drop of less than 0.1%. The S&P 500 is down less than a point to 2,499. The Nasdaq Composite Index slipped 3 points, or less than 0.1%, to 6,419.   Source: Marketwatch

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Gold Seen Spiking to $1,400 at Russian Bank on Global Tensions
Monday, 14 August 2017 12:08 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold prices are set to jump to a four-year high of $1,400 an ounce by the end of the year over mounting tensions between North Korea and the U.S., and surging demand in the world™s biggest consumers, according to the head of precious metals at a Russian investment bank.

Bullion could rise to $1,360 within three months before climbing higher, fueled by global political risks and buying from China and India, said Evgeny Ananiev at VTB Capital JSC, the investment-banking unit of Russia™s second-largest lender VTB Group. œWe may see some correction, but I don™t think gold will drop below $1,200 as it™s well supported, he said in a weekend interview in Goa. The metal traded at $1,289.40 on Monday.

Prices have climbed 12 percent this year, driven by worries over a potentialnuclear conflict between the U.S. and North Korea, and subdued inflation in the U.S., which is cooling chances of a further increase in interest rates. President Donald Trump has intensified warnings to North Korea, promising a massive response to any strike against the U.S. or its allies. Hedge fund billionaire Ray Dalio recommends investors place 5 to 10 percent of their assets in gold.

The upbeat sentiment was shared by other participants at the conference. œFundamentally, we have been very bullish on the market, said Chirag Sheth, an analyst at Metals Focus Ltd., an independent precious-metals research firm based in London. œWhat North Korea has done is given gold the legs to go above the $1,300 level and sustain above that level, he said in an interview.

Sheth expects prices to advance to $1,400 in six to nine months as the situation in North Korea sees investors coming back to the market in search of a haven. The U.S. Federal Reserve, which was hawkish on interest rates, has now softened its stance, providing further support to bullion, he said.

˜Hellacious War™

As Trump and Kim Jong Un traded barbs, Dalio wrote in a LinkedIn post last week that œthe world is watching to see which one will be caught bluffing, or if there will be a hellacious war. Dalio, who manages Bridgewater Associates, also said he sees rising odds of Congress failing to increase the U.S. debt ceiling, leading to a technical default.

The U.S. consumer-price index rose 1.7 percent in July from year earlier, a report showed Friday, trailing the 1.8 percent median estimate of economists surveyed by Bloomberg. Cooling price pressures could make it tougher for the U.S. central bank to raise interest rates again this year.

Indian demand has also recovered after a poor performance in 2016 and jewelry consumption may climb by about 6 percent this year, said Sheth, who provides supply and demand data to the World Gold Council. Imports may jump about 30 percent to as high as 800 metric tons in 2017, he said.

Demand for gold bars in China, the world™s biggest bullion market, soared by more than half in the first six months of the year, while overall gold consumption climbed almost 10 percent to 545.2 tons, according to the China Gold Association.

 

Source: Bloomberg 

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POPULAR NEWS
Gold Set for Weekly Loss as Investors Weigh Fed, Korea

Gold heads for second weekly decline as investors weigh Federal Reserve™s signal for four interest rate increases by end-2018 and plans to reduce bank™s balance sheet against tensions over North Korea. Bullion for immediate delivery added 0.2% at $1,293.95/oz at 8:56am in Singapore: Bloomberg generic pricing. This metal fell to $1,288.20/oz on Thursday, lowest since Aug. 25. Gold lost 2% this week after dropping same amount last week. Bloomberg Dollar Spot Index rose 0.6% this...

British pound drops to two-day low against euro on PM May talks Brexit plan

The British pound weakened against the U.S. dollar and the euro on Friday, as Prime Minister Theresa May revealed details on Britain's ambitious for Brexit in a speech in Florence. Against the dollar, the pound slipped to $1.3495, a new intraday low, while the euro jumped to a two-day high at £0.8874.   Source: Marketwatch

ECB's Draghi: we aren't there yet on inflation

More comments coming out of the ECB President Mario Draghi's scheduled speech at the ECB Youth Dialogue at Trinity College, in Dublin: Key quotes (via LiveSquawk):    ¢  We aren™t there yet on inflation    ¢  We haven™t seen much financial stability risks    ¢  Financial system much more resilient thanks to reforms    ¢  Local imbalances shouldn™t be addressed by monetary policy Meanwhile, the EUR/USD pair quickly retreated around 15-20 pips from session tops...

U.S. stock futures fall after North Korean nuclear bomb threat

U.S. stock futures pointed to opening losses for Wall Street on Friday, as geopolitical tensions returned to the fore after North Korea threatened to test a hydrogen bomb over the Pacific Ocean. Traders were also looking ahead to a trio of Federal Reserve speakers, searching for more details on monetary policy after the central bank™s meeting earlier this week. Futures for the Dow Jones Industrial Average lost 27 points, or 0.1%, to 22,306, while those for the S&P 500 index gave up...

Stocks dip on latest North Korea threat; Dow on track for 2nd weekly gain

U.S. stocks edged lower on Friday, as geopolitical tensions returned to the forefront after North Korea threatened to test a hydrogen bomb over the Pacific Ocean, although the selling was limited as the market™s general uptrend was seen as intact. The Dow Jones Industrial Average dipped 10 points to 22,354, a drop of less than 0.1%. The S&P 500 is down less than a point to 2,499. The Nasdaq Composite Index slipped 3 points, or less than 0.1%, to 6,419.   Source: Marketwatch

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