MTECHTIPS;-Gold jumps to 10-month high as North Korea missile launch rattles markets


MTECHTIPS;-Gold jumps to 10-month high as North Korea missile launch rattles markets

MTECHTIPS-Gold prices rallied to their highest level in almost ten months on Tuesday, as investors piled into safe-haven assets after North Korea fired a missile that passed over northern Japan. Geopolitical risks can boost demand for safe-haven assets such as gold which is considered a good store of value during volatility in other markets. Comex gold futures jumped $11.10, or around 0.9%, to $1,326.52 a troy ounce by 3:15 AM ET (0715 GMT). It rose to its highest since early November at $1,330.00 earlier. Gold prices gained around 1.3% on Monday, its biggest one-day percentage rise since mid-May.North Korea fired a missile early on Tuesday that flew over Japan and landed in waters off Hokkaido, in a sharp escalation of tensions on the Korean peninsula. The last time a projectile from the hermit state flew over Japan was 2009. The U.S., Japan and South Korea asked for a United Nations Security Council meeting to discuss the test, diplomats said. A meeting of the 15-member Security Council would be held later in the day, they said. Global markets were shaken earlier this month after President Donald Trump cautioned that North Korea would be met with “fire and fury” if it continued to make threats against the U.S

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MTECHTIPS;-Gold jumps to 10-month high as North Korea missile launch rattles markets


MTECHTIPS;-Gold jumps to 10-month high as North Korea missile launch rattles markets

MTECHTIPS-Gold prices rallied to their highest level in almost ten months on Tuesday, as investors piled into safe-haven assets after North Korea fired a missile that passed over northern Japan. Geopolitical risks can boost demand for safe-haven assets such as gold which is considered a good store of value during volatility in other markets. Comex gold futures jumped $11.10, or around 0.9%, to $1,326.52 a troy ounce by 3:15 AM ET (0715 GMT). It rose to its highest since early November at $1,330.00 earlier. Gold prices gained around 1.3% on Monday, its biggest one-day percentage rise since mid-May.North Korea fired a missile early on Tuesday that flew over Japan and landed in waters off Hokkaido, in a sharp escalation of tensions on the Korean peninsula. The last time a projectile from the hermit state flew over Japan was 2009. The U.S., Japan and South Korea asked for a United Nations Security Council meeting to discuss the test, diplomats said. A meeting of the 15-member Security Council would be held later in the day, they said. Global markets were shaken earlier this month after President Donald Trump cautioned that North Korea would be met with “fire and fury” if it continued to make threats against the U.S

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MTECHTIPS;-Copper prices to trade higher


MTECHTIPS;-Copper prices to trade higher

MTECHTIPS- Copper prices traded higher by 2.8 percent last week touching three year highs as gains in iron ore prices, key Steel making ingredient boosted an upside in nonferrous metals space. Iron ore futures on the Dalian Commodity Exchange surged for third day in a row on Monday fueled by concerns of shortages of high-grade iron ore and before curbs on futures purchases come into force. LME Copper prices are currently trading higher by 1.72 percent at $6780.5/t. Copper prices are likely to trade higher today as weakness in the DX will be supportive. Also, declining LME Copper stocks along bullish CFTC positions will act as positive factors

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MTECHTIPS;-Copper prices to trade higher


MTECHTIPS;-Copper prices to trade higher

MTECHTIPS- Copper prices traded higher by 2.8 percent last week touching three year highs as gains in iron ore prices, key Steel making ingredient boosted an upside in nonferrous metals space. Iron ore futures on the Dalian Commodity Exchange surged for third day in a row on Monday fueled by concerns of shortages of high-grade iron ore and before curbs on futures purchases come into force. LME Copper prices are currently trading higher by 1.72 percent at $6780.5/t. Copper prices are likely to trade higher today as weakness in the DX will be supportive. Also, declining LME Copper stocks along bullish CFTC positions will act as positive factors

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MTECHTIPS;-Crude gains in Asia as analyst see recovery by refiners in sight


MTECHTIPS;-Crude gains in Asia as analyst see recovery by refiners in sight

MTECHTIPS – Crude oil prices gained in Asia on Tuesday as the market works through the impact on the U.S. Gulf Coast refining and crude output sectors though a rebound is expected as the damage from the storm and flood get fixed. “It really does depend. Corpus could be back next week, Houston we don’t know, but in the next few weeks as things return to normal, we should see a little bit of a price bounce again,” said Matt Smith, an analyst with Clipper Data. On the New York Mercantile Exchange crude futures for October delivery rose 0.58% to $46.84 a barrel, while on London’s Intercontinental Exchange, Brent gaind 0.47% to $51.66 a barrel. Overnight, crude futures settled lower on Monday, as Tropical Storm Harvey continued to disrupt refinery activity along the U.S. Gulf coast, adding to fears of an uptick in crude oil supplies. Crude oil made a negative start to the week as flooding caused by the storm forced refiners in the Gulf of Mexico region to shutdown, sparking concerns over an excess in crude oil supplies, the primary input at refiners. It is estimated that approximately 331,370 barrels of oil per day (bpd), or 18.94%, of the current oil production of 1,750,000 bpd in the Gulf of Mexico has been shut-in, according to an update from the Bureau of Safety and Environmental Enforcement on Monday

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MTECHTIPS;-Crude gains in Asia as analyst see recovery by refiners in sight


MTECHTIPS;-Crude gains in Asia as analyst see recovery by refiners in sight

MTECHTIPS – Crude oil prices gained in Asia on Tuesday as the market works through the impact on the U.S. Gulf Coast refining and crude output sectors though a rebound is expected as the damage from the storm and flood get fixed. “It really does depend. Corpus could be back next week, Houston we don’t know, but in the next few weeks as things return to normal, we should see a little bit of a price bounce again,” said Matt Smith, an analyst with Clipper Data. On the New York Mercantile Exchange crude futures for October delivery rose 0.58% to $46.84 a barrel, while on London’s Intercontinental Exchange, Brent gaind 0.47% to $51.66 a barrel. Overnight, crude futures settled lower on Monday, as Tropical Storm Harvey continued to disrupt refinery activity along the U.S. Gulf coast, adding to fears of an uptick in crude oil supplies. Crude oil made a negative start to the week as flooding caused by the storm forced refiners in the Gulf of Mexico region to shutdown, sparking concerns over an excess in crude oil supplies, the primary input at refiners. It is estimated that approximately 331,370 barrels of oil per day (bpd), or 18.94%, of the current oil production of 1,750,000 bpd in the Gulf of Mexico has been shut-in, according to an update from the Bureau of Safety and Environmental Enforcement on Monday

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