Gold Inches Toward $1300 Ahead Of Inflation Data

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The commodity touched over $1,284.40 an ounce on Wednesday, which marked the highest intraday price in nearly two months.

"We've had some competing forces play out over the past 12 hours - the USA dollar was stronger off economic data, but that was quickly reversed with President Trump's comments about North Korea earlier today (Wednesday)", said ANZ analyst Daniel Hynes. "The U.S. president at a [golf] links again let out a load of nonsense about 'fire and fury, ' failing to grasp the on-going grave situation".

The Standard & Poor's 500 index fell 10 points, or 0.4 percent, to 2,463.

Baker Avenue's Lip said the USA market was higher due to "bargain hunters", but "there's more room for the market to come down".

A small rise in a measure of United States consumer prices pointed to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year, which would be favourable to equity investors.

In Europe, the pan-continental STOXX 600 index lost 0.9 percent, with falls deepening after reports a auto had rammed a group of soldiers in Paris, injuring six. Wall Street was poised for a soft opening with S&P futures and Dow futures both down 0.2 percent.

The Korean won also continued to skid, down 0.45 percent to 1,147.2, falling below its 200-day moving average for the first time in a month.

The yield on USA 10-year Treasurys slid to 2.192% Friday from 2.211% Thursday.

Emerging market stocks lost 1.28 percent. The Nasdaq composite lost 36 points, or 0.6 percent, to 6,315.

Tokyo's Nikkei 225 share index closed down 1.3 per cent at its lowest since 1 June as the strong yen hit exporters, while South Korea's KOSPI index fell 1.1 per cent to seven-week lows.

He said the crisis provided a "perfect trigger" for a correction at a time when many markets - including the FTSE 100 - were at or around record highs, leaving them vulnerable to a sell-off if investors think it is time to take profits.

CURRENCY: The dollar declined to 109.93 yen from Tuesday's 110.34. "We're not very oversold yet so the market still has more downside left to it".

The dollar was further weighed down on Friday by the soft U.S. inflation data.

Oil prices rose before a report expected to show US crude stocks fell for a sixth week. The 30-year bond last rose 28/32 in price to yield 2.7759 percent, from 2.818 percent late on Wednesday. It was on course for an over 5 percent weekly rise, its highest such gain since July 2016. Yesterday, the TICK opened at around 900-a reading of 1,000 or more means pretty severe selling pressure-and then headed higher throughout the day.

In commodities trading, crude oil futures are slipping USD0.10 to USD48.49 a barrel after tumbling USD0.97 to USD48.59 a barrel on Thursday.

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