Morning Snapshot: Gold defensive on heightened risk appetite

USAGOLD/Peter Grant/09-12-17

Gold remains defensive amid renewed stock market optimism as Irma weakens and North Korea remains quiet in the face of fresh UN sanctions. U.S. yields are higher, underpinning the dollar amid heightened risk appetite.

The U.S. calendar is light today with JOLT job openings for July and the NFIB Small Business Optimism Index for August, which ticked higher. Focus remains on inflation data later in the week and then next week’s FOMC meeting.

“We are done trying to prod the regime to do the right thing, we are now trying to stop it from having the ability to do the wrong thing,” said U.S. ambassador to the UN Nikki Haley yesterday. She did rattle the saber some as well by saying, “[I]f the North Korean regime does not halt its nuclear program, we will act to stop it ourselves.”

The new sanctions cap oil imports, but did not go so far as to completely block imports. Perhaps that’s a chip to still be played if the DPKR continues to advance their nuclear and missile programs.

Share
This entry was posted in Gold News, Gold Price, Gold Views, Snapshot. Bookmark the permalink.

Comments are closed.