Published: Thu, September 28, 2017
Life&Culture | By Kristin Armstrong

Global gold prices steady as North Korea worries lend support

Global gold prices steady as North Korea worries lend support

USA stock benchmarks are mixed, with the Dow Jones Industrial Average DJIA, -0.01% on track to extend a four-session skid, while gold futures GCZ7, -0.86% perceived as a haven asset saw a firm drop below $1,300 an ounce. Key among current uncertainties are the forces driving inflation, which has remained low in recent years despite substantial improvement in labor market conditions.

In currency markets, the euro was down 0.4 percent to a one-month low below $1.1742, having fallen as low as $1.1732.

Rabobank strategists say that if the tax reforms raises the chances of the US sustaining a 3 percent growth rate, then it will be a significant boost for the dollar which has suffered this year and is poised for its biggest annual drop since 2004. But South Korea's Kospi added 0.1 percent to 2,375.92.

"You do have the announcement of tax reform coming out today, so I imagine there is a little bit of optimism, even if it is short lived", Issa said.

The tax reform speech by United States president Donald Trump in Indianapolis later on Wednesday - of which he had promised "the largest tax cut in the history of our country" - will be closely watched by investors given its possible repercussions for the dollar. The influence of labor utilization on inflation has become quite modest over the past 20 years, implying that the inflationary consequences of misjudging the sustainable rate of unemployment are low.

The dollar extended its gains from Tuesday afternoon at the start of Wednesday's session, but have since pared their gains as the day has progressed. In global markets, dollar found support for Fed Chairman Janet Yellen's explanation that interest rate hikes should be continued. He thinks President Donald Trump wants a "reformer" heading up the central bank.

The quite hawkish remarks sent the dollar and USA bonds higher as investors grew confident of another rate hike in December.

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Mueller also wants more information on campaign officials including embattled former campaign chief Paul Manafort . The Times asserted that the document requests show that several aspects of his probe "are focused squarely on Mr.

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In his own way, the American president said he wanted his parade to be bigger and better than he had seen in France. French president defends his decision to grant interview to USA media before French outlets.

The benchmark S&P 500 Index (NYSEARCA:SPY) pared gains to finish flat at 2,496.84.

The U.S. Dollar rose on Yellen's statements and U.S. interest rate futures prices dipped further to price in about 70 percent chance of a rate hike by December compared to near 60 percent on Monday.

The U.S. Energy Information Administration will release stocks data later on Wednesday.

-The MSCI All-Country World index fell 0.3 percent to the lowest in over two weeks.

Dow e-minis were down 10 points, or 0.04 percent, with 22,892 contracts changing hands. The euro fell to $1.1788 from $1.1791.

Nasdaq 100 e-minis were up 5.5 points, or 0.09 percent, on volume of 29,784 contracts.

In oil markets, Brent crude traded at around $58.23 a barrel on Wednesday morning, down 0.36 percent, while USA crude was flat at $51.89 a barrel.

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