Forex Marketz Daily Forex News – Fully Markets Update
This morning, during the Asian trading session, the price of gold rose as investors became more spooked over mounting tensions between the United States and North Korea. These mounting tensions come after the rogue North Korean state responded to warnings from President Donald Trump with a threat to strike the United States territory of Guam.
The price of spot gold (XAU/USD), by 1:00 am GMT, rose 0.5 percent to $1,266.20 per ounce. It marked its highest price level since July 26. The yellow metal, in the previous session, was at $1,251.01 an ounce.
US gold futures, for December delivery, were up 0.8 percent to $1,272.00 per ounce.
North Korea, this morning, said that they were now considering plans for a missile strike on the US territory of Guam, which is in the Pacific. This comes hours after Trump told the rogue nation that any threat to the United States would be met with “fire and fury.”
Trump had warned North Korea, on Tuesday, that they would face “fire and fury” if they continue to threaten United States. This, in turn prompted the nuclear armed nation to say it was considering firing missiles at Guam.
Gold and safe haven Asset Classes get a Boost
After the saber rattling hit the wires, US stock futures fell. US Treasuries, the yellow metal and the safe haven yen rose in Asian trading, this morning, as tensions on the Korean peninsula mounted.
The yen firmed in the USD/JPY Forex market as money flocked towards regional Forex safe haven assets. By 9:50 am Hong Kong time, this Forex market was fetching 109.86. The US dollar had fetched as much as 110.37 yen earlier in the trading day.
