Korea tension triggers run to safety; stocks off, gold up

Korea tension triggers run to safety; stocks off, gold up

The price of oil was also 0.3% ahead at 52.29 U.S. dollars a barrel, with stockpiles coming under pressure from falling crude oil imports and record processing at American refineries.

Manulife Financial Corp and Sun Life reported second-quarter earnings on Wednesday that beat market estimates, benefiting in part from strong growth in Asia. We are now seeing the silver prices trade strongly just above $16.5 and the prices are expected to hold steady in the short term.

CURRENCIES: The dollar fell to 109.87 yen from 110.48 yen late Tuesday.

Gold, another classic safe haven asset, was trading at around $1,285 per ounce, up more than two percent this week and near a nine-week high.

"We saw a tentative recovery in risk appetite yesterday from the sell off inspired by North Korea but I think justifiably that move is fading a little bit today", said Saxo Bank's head of FX strategy John Hardy. Stocks took a hit for a third straight day Thursday as North Korea's nuclear threats seemed again to roil the markets.

FIRE AND FURY: Keeping up his tough talk, Trump told reporters that North Korean leader Kim Jong Un's government should "get their act together" or face extraordinary trouble, and suggested his earlier threat to unleash "fire and fury" on North Korea was too mild.

Andersen Air Force Base on Guam is where the USA keeps its B1-B bombers deployed to the Asia Pacific.

"What has changed this time is that the scary threats and war of words between the United States and North Korea have intensified to the point that markets can't ignore it", said Shane Oliver, head of the investment strategy at AMP Capital in Sydney.

The index's losses mirrored global markets, which fell after incendiary words between the United States and North Korea. US and British equivalents were also trading a touch above Wednesday's six-week lows. Prices for bonds and gold headed higher.

"Both (PPI measures) were well below consensus and give us no hope that consumer price inflation is going to materially beat expectations", said Chris Weston, chief market strategist at IG Markets.

Spot gold XAU= added 0.7 percent to $1,286.00 an ounce. The strong performance of these companies is clearly related to the North Korea drama.

About 7.5 billion shares changed hands on USA exchanges, well above the 6.25 billion average for the last 20 days.

Commercial and residential estate agency Savills was flat inspite of reporting strong first half results as Asia and London office sales offset a decline in the United Kingdom housing market. Oil prices veered lower as early gains faded.

US crude oil crude futures CLc1 edged up 10 cents to $48.69 per barrel. The Dow Jones Industrial Average was down 71 points, or.32 percent, ending a 10-day streak of rises. Nonetheless, most Americans (72 percent) are uneasy about the possibility of conflict with North Korea, according to a CBS News poll, and 61 percent say they are uneasy about the president's approach to the situation. "Therefore one shouldn't make a big call".



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