MTECHTIPS:-Gold gains in Asia on renewed risk sentiment on N Korea tensions


MTECHTIPS:-Gold gains in Asia on renewed risk sentiment on N Korea tensions

MTECHTIPS-Gold gained in Asia on Wednesday as geopolitical tensions on the Korean peninsula hit risk sentiment. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose 0.57% to $1,269.81 a troy ounce. North Korea said on Wednesday it is “carefully examining” plans for a missile strike on the U.S. Pacific territory of Guam, just hours after U.S. President Donald Trump told the North that any threat to the United States would be met with “fire and fury.” Earlier, China reported consumer and producer prices for July with CPI up 0.1%, compared to a 0.2% gain seen on month and at a 1.4% annual pace, compared to an expected 1.5% rise on year. PPI rose 5.5% as expected. Overnight, gold prices edged lower on Tuesday, pressured by a rebound in the dollar, after U.S. job openings topped forecasts, pointing to an improving labor market, lifting expectations the Federal Reserve will keep to its plan to raise rates at least once more this year. Gold struggled to hold onto gains, as the dollar hit a nearly two-week high, after U.S. job openings, a measure of labor demand, increased 461,000 to a seasonally adjusted 6.2 million, the highest level since the series started in December 2000, the Labor Department said on Tuesday 

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MTECHTIPS:-Gold gains in Asia on renewed risk sentiment on N Korea tensions


MTECHTIPS:-Gold gains in Asia on renewed risk sentiment on N Korea tensions

MTECHTIPS-Gold gained in Asia on Wednesday as geopolitical tensions on the Korean peninsula hit risk sentiment. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose 0.57% to $1,269.81 a troy ounce. North Korea said on Wednesday it is “carefully examining” plans for a missile strike on the U.S. Pacific territory of Guam, just hours after U.S. President Donald Trump told the North that any threat to the United States would be met with “fire and fury.” Earlier, China reported consumer and producer prices for July with CPI up 0.1%, compared to a 0.2% gain seen on month and at a 1.4% annual pace, compared to an expected 1.5% rise on year. PPI rose 5.5% as expected. Overnight, gold prices edged lower on Tuesday, pressured by a rebound in the dollar, after U.S. job openings topped forecasts, pointing to an improving labor market, lifting expectations the Federal Reserve will keep to its plan to raise rates at least once more this year. Gold struggled to hold onto gains, as the dollar hit a nearly two-week high, after U.S. job openings, a measure of labor demand, increased 461,000 to a seasonally adjusted 6.2 million, the highest level since the series started in December 2000, the Labor Department said on Tuesday 

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MTECHTIPS:-Copper to trade in 405-419.2


MTECHTIPS:-Copper to trade in 405-419.2

MTECHTIPS-Copper trading range for the day is 405-419.2 Copper prices rallied as investors flooded into metals on expectations of capacity cuts in coal and aluminium in China. China’s imports of copper and copper products rose around 8 percent in July from last year as the availability of credit improved. Soaring global copper price could crimp China demand for imports. BUY COPPER AUG 2017 @ 413.00 SL 409.00 TGT 416.80-420.00. MCX

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MTECHTIPS:-Copper to trade in 405-419.2


MTECHTIPS:-Copper to trade in 405-419.2

MTECHTIPS-Copper trading range for the day is 405-419.2 Copper prices rallied as investors flooded into metals on expectations of capacity cuts in coal and aluminium in China. China’s imports of copper and copper products rose around 8 percent in July from last year as the availability of credit improved. Soaring global copper price could crimp China demand for imports. BUY COPPER AUG 2017 @ 413.00 SL 409.00 TGT 416.80-420.00. MCX

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MTECHTIPS:-Crude oil mixed in Asia after API figures, N Korea tension in focus


MTECHTIPS:-Crude oil mixed in Asia after API figures, N Korea tension in focus

MTECHTIPS-Crude oil prices were narrowly mixed on Wednesday after industry estimates showed far larger drop in U.S. crude stocks than expected with tensions on the Korean peninsula in focus as Pyongyang threatens Guam. On the New York Mercantile Exchange crude futures for September delivery eased 0.16% to $49.09 barrel, while on London’s Intercontinental Exchange, Brent was last quoted up 0.15% to $51.99 a barrel. Crude oil inventories dropped by 7.893 million barrels at the end of last week, the American Petroleum Institute said in estimates released on Tuesday, far more than the 2.2 million barrels decline seen. The U.S. Energy Information Administration will release its official weekly petroleum status report at 10:30 a.m. ET (1430 GMT) on Wednesday. Overnight, crude futures settled lower on Tuesday, as rising output from major oil producers offset reports that Saudi Arabia is planning to cut exports to Asia next month. North Korea said it is considering plans for a missile strike on the U.S. Pacific territory of Guam. The strike plan would be put into practice at any moment once leader Kim Jong Un makes a decision, a spokesman for the Korean People’s Army (KPA) said in a statement carried by the North’s state-run KCNA news agency.

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MTECHTIPS:-Crude oil mixed in Asia after API figures, N Korea tension in focus


MTECHTIPS:-Crude oil mixed in Asia after API figures, N Korea tension in focus

MTECHTIPS-Crude oil prices were narrowly mixed on Wednesday after industry estimates showed far larger drop in U.S. crude stocks than expected with tensions on the Korean peninsula in focus as Pyongyang threatens Guam. On the New York Mercantile Exchange crude futures for September delivery eased 0.16% to $49.09 barrel, while on London’s Intercontinental Exchange, Brent was last quoted up 0.15% to $51.99 a barrel. Crude oil inventories dropped by 7.893 million barrels at the end of last week, the American Petroleum Institute said in estimates released on Tuesday, far more than the 2.2 million barrels decline seen. The U.S. Energy Information Administration will release its official weekly petroleum status report at 10:30 a.m. ET (1430 GMT) on Wednesday. Overnight, crude futures settled lower on Tuesday, as rising output from major oil producers offset reports that Saudi Arabia is planning to cut exports to Asia next month. North Korea said it is considering plans for a missile strike on the U.S. Pacific territory of Guam. The strike plan would be put into practice at any moment once leader Kim Jong Un makes a decision, a spokesman for the Korean People’s Army (KPA) said in a statement carried by the North’s state-run KCNA news agency.

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