Gold Continues Higher as CPI Looms

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Still, prices for gold remain below $1,300 an ounce "because so far there has been a lot of talk, but little action", said Cieszynski. The S&P fell as much as 0.52 percent at its session low.

These funds then begin to make their way towards gold, dollar, yen and the swiss franc as these are considered to be safe havens. Futures for the S&P 500 dropped 1.5 points, or 0.1%, to 2,436. The Dow Jones Industrial Average fell 0.93% and closed at 21,844.01. Secretary of State Rex Tillerson later insisted the US isn't signalling it's about to mete out a military response despite threats from North Korea suggesting it could attack Guam, a USA island territory in the Pacific.

The ongoing political crisis that has seen North Korea state it was seeking to strike the US Pacific island territory of Guam within days, prompted gold speculator Dennis Gartman, editor and publisher of The Gartman Letter to say he believed gold was on the cusp on a significant break out.

On Tuesday, August 8, despite that new record high, the market pulled back and closed lower due to decreased risk appetite. These mark a bucking against the 1.3% fall in Australia's benchmark index.

Gold rose to its highest level in nearly two months, while the Swiss franc increased by more than 1% against the USA dollar and saw its biggest one-day gain against the euro in more than two and a half years.

"The slight bias to the upside (in stocks) is a result of the CPI number".

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The Toronto Stock Exchange's S&P/TSX composite index fell 143.08 points to 15,074.25, with almost all of its sectors moving lower.

Nasdaq 100 e-minis were down 17 points, or 0.29 percent, on volume of 36,232 contracts. It usually moves opposite to the movements of stocks and rises when the S&P 500 falls.

Gold prices held steady after touching their highest in over two months on Friday and were on track for a weekly gain, buoyed as rising tensions between the United States and North Korea triggered safe-haven buying.

The pan-European STOXX 600 was down 0.7% at closing, France's CAC 40 fell 1.4% after a auto hit a group of soldiers in Paris in what is thought to have been a deliberate act, and a fall in bond yields saw Germany's DAX down 1.1%. It was down 0.2% at 108.98 yen, after retreating 0.7% yesterday.

Disney shares fell sharply on Wednesday -3.88% weighing on the big board after the company reported a mixed third quarter financial performance and news about going head to head with other streaming services such as Netflix, Amazon and Hulu.

On Thursday, Germany's DAX 30 lost 0.2% to 12,124.23, and France's CAC 40 index fell 0.3% to 5,132.45.

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