Stock markets lower, gold price continues to rise amid political tensions

Stock markets lower, gold price continues to rise amid political tensions

Gold prices remain better bid (+0.4% to $1,265.70 per ounce) amid rising tensions between the U.S and North Korea after the North responded to warnings from U.S. President Donald Trump with a threat to strike the U.S. territory of Guam. Tensions spiked yet further when North Korean state media later said Pyongyang was considering strikes near USA military installations in Guam.

The Dow Jones was down 0.3% in opening trade, declining to 22,016.8 and the wider S&P 500 index dropped 0.48% to 2,463.18.

Crude oil futures are slipping USD0.10 to USD48.49 a barrel after tumbling USD0.97 to USD48.59 a barrel on Thursday.

The FTSE 100 has extended its slump after U.S. president Donald Trump ramped up rhetoric against North Korea, saying his earlier threat to unleash "fire and fury" on the country "wasn't tough enough". Japan was closed on a public holiday.

South Korea's won currency dropped 0.9% against the dollar.

Stocks in London are seen opening lower on Friday as investors keep a wary eye on heated rhetoric between the USA and North Korea, while in corporate news Old Mutual reported a substantial rise in interim profit.

CURRENCY: The dollar declined to 109.79 yen from Tuesday's 110.34 yen.

"If he does something in Guam, it will be something the likes of which have never happened before in North Korea", he said, declaring his remarks "not a dare" but a statement and also warning against threats to U.S. allies Japan and South Korea.

Trump again cites 'military' option against North Korea
North Korea has lashed back at the USA following President Donald Trump's latest warnings. DPRK stands for North Korea's official name, the Democratic People's Republic of Korea.

Australian shares fell to near three-week lows in a broad-based selloff. "I do think we could see markets pull back between 1 and 5 percent".

In other precious metals, silver was almost flat at $16.90 per ounce after hitting its highest since June 15 earlier in the session. The Russell 2000 index of smaller-company stocks picked up 1.69 points, or 0.1 percent, to 1,374.23. The S&P 500 fell 1% Thursday but is still up around 9% so far this year. "What's happened in North Korea is enough to do that".

Across Europe, the Cac 40 in France slid 1.1% while Germany's Dax was flat.

In economic news, German consumer inflation grew an annual 1.7% in July, slightly faster than the 1.6% increase registered in June, final data from Destatis showed.

While the Consumer Price Index increased +1.4% vs. a forecast of +1.5% - well below the government ceiling of +3%.

Dean Foods Co.'s stock plunged 21 percent after reporting earnings in the second-quarter that were way below investors' expectations.

Shares of Snap were off about 13 percent premarket following the social media company's earnings that came below estimates and a slew of price target cuts.

FED WATCH: Investors looked ahead to an appearance Thursday by Bill Dudley, president of the U.S. Federal Reserve Bank of NY, for signs of the Fed's outlook on the economy.

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