Commodities Update: Gold holds on to gains as tensions rise between US and North Korea

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MG News | September 26, 2017 at 04:23 PM GMT+05:00

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US Equities went down as North Korea treated US statements as a declaration of war against the hermit state, saying it has the authority to shoot any US planes entering in her Airspace.

Gold steadied on Wednesday after reaching its highest in weeks ever since tensions started mounting again over the Korean and US war of words. Investors flocked to safe investments, as equities saw a decline after announcements making war claims were sent out by North Korean Government via Twitter.

Spot gold was nearly unchanged at $1,310.01 per ounce at 0636 GMT, after earlier marking its highest since Sept. 20 at $1,313.54. It gained over 1 percent in the previous session.

U.S. gold futures for December delivery rose 0.2 percent to $1,313.70 per ounce.

Equities in US witnessed a sharp sell and prices for risk aevrse markets started to gather momentum as North Korea’s Foreign Minister said that the country is treating Donald Trump’s tweets as a declaration of war against her.

Asian shares withered and the yen firmed against the backdrop of rising tensions on the Korean Peninsula, and as investors awaited fresh signals about the U.S. monetary policy outlook.

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Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,755.00 119,440.00
118,260.00
460.00
0.39%
BRENT CRUDE 71.97 73.17
71.75
-0.54
-0.74%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.67 69.79
68.45
-0.54
-0.78%
SUGAR #11 WORLD 16.40 16.58
16.40
-0.19
-1.15%

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