Business

One of the more under-reported stories - at least among the Western press - are the growing tension between China and India. As reported over the weekend, in the latest escalation, Indian and Chinese soldiers, in addition to the ongoing tense military standoff over a contested road in Doklam, were involved in an altercation in the western Himalayas on Tuesday, further raising tensions between the two countries which are already locked in a two-month standoff in another part of the disputed border.

The former Republican Congressman from Texas believes escalating dysfunction in Washington will create even more pain for Wall Street.

Speaking on CNBC's Futures Now, Ron Paul warned:

"A 50 percent pullback is conceivable...I don't believe it's ten years off. I don't even believe it's a year off. "

Paul noted that there's a lot of chaos in Washington right now, with an "unpredictable president" and those who are inclined to "tear him apart" but if the market takes that big of a tumble, he doesn't see it as Trump's fault.

Submitted by Ronan Manly, BullionStar.com

On August 10, the Wall Street Journal (WSJ) published an article about the Federal Reserve Bank of New York (FRBNY) custody gold and the NY Fed’s gold vault. This vault is located under the New York Fed’s headquarters at 33 Liberty in Manhattan, New York City.

The price of Ether is soaring today, heading back towards record highs as broader acceptance (UK's IG Group offer ETH trading), government discussions (ETH founder meets with Thai central bank), and perhaps most of all fork-related buying (ETH faces hard fork and traders are betting on BTC-like reaction).

Ether is surging today, heading back towards its $400 record highs from mid June.

There appears three main drivers of this most recent move:

While overnight equity, bond and FX markets traded in a narrow range as a result of scarce mid-summer liquidity, mounting Trump administration and geopolitical concerns and uncertainties ahead of Friday's Jackson Hole symposium, the same can not be said about the latest "berserker" action in the commodity space in general, and industrial metals in particular, where China's horde of momentum-chasing speculators were unleashed overnight, sending Zinc to its highest since October 2007 at $3,180.50 a tonne, the bellwether industrial metal, and "doctor", copper surged to to $6,593 a ton