"Gold prices to reach $1,400 before the end of the year" - GoldCore
by MarketWatch
Gold finished sharply higher on Monday, recouping roughly half of last week’s loss, as declines in the U.S. stock market and growing tensions between the U.S. and North Korea lifted prices for the yellow metal to the highest settlement in more than a week.
North Korea appears to be following through with its threat to shoot down US fighter jets and bombers that travel near its airspace, as US jets and bombers did on Saturday, according to a Yonhap report - the latest sign that North Korea intends to follow through with threats made by Foreign Minister Ri Yong Ho during a speech outside the UN on Monday.
S&P futures are flat after Monday’s drop in the S&P 500 where a rout in Apple weighed on tech companies and tensions with North Korea persist; Asian stocks are modestly lower while Europe has shaken off the Korean crisis and is in the green on the back of a sharp drop in the EURUSD which has tumbled below 1.18 as the USD rises ahead of much anticipated speeches by the Fed Chair and the French president.
As if the just concluded German elections, and the upcoming referendums in Catalonia and Iraqi Kurdistan were not enough, here comes Japan.
European stocks rose as the euro tumbled following Germany’s election result which was dubbed a "Nightmare Victory" for Merkel and could lead to potentially complicated coalition talks and perhaps even another early election. U.S. equity-index futures point to a lower open, while Asian equities slide after a plunge in Chinese property developer names over worries of new real estate curbs as well as tech stocks following more iPhone delivery concerns. S&P500 futures are steady, down slightly by just over -0.1%, after closing little changed on Friday.