• Tag Archives South Korea
  • OCT 16/2017/GOLD AND SILVER FALL ON NEWS THAT TRUMP IS CONSIDERING JOHN TAYLOR AS FED GOVERNOR/KIRKUK FALLS TO IRAQI GOVERNMENT/SPECIAL FORCES LAND IN SOUTH KOREA/BREXIT TALKS GOING NOWHERE

    GOLD: $1302.35 DOWN $1.64
    Silver: $1733 DOWN 6 cents
    Closing access prices:
    Gold $1295.50
    silver: $17.24
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1309,55 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1301,50
    PREMIUM FIRST FIX: $8.05 (premiums getting larger)
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1311.55
    NY GOLD PRICE AT THE EXACT SAME TIME: $1303.50
    Premium of Shanghai 2nd fix/NY:$8.60(PREMIUMS GETTING LARGER)
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1305.10
    NY PRICING AT THE EXACT SAME TIME: $1304.10
    LONDON SECOND GOLD FIX 10 AM: $1299.60
    NY PRICING AT THE EXACT SAME TIME. 1299.60
    For comex gold:
    OCTOBER/
    NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 19NOTICE(S) FOR 1900 OZ.
    TOTAL NOTICES SO FAR: 2353 FOR 235,300 OZ (7.318TONNES)
    For silver:
    OCTOBER
    9 NOTICES FILED TODAY FOR
    45,000 OZ/
    Total number of notices filed so far this month: 562 for 2,810,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    Bitcoin: $5659 bid /$56 79 offer up $171.00

    This post was published at Harvey Organ Blog on October 16, 2017.


  • Jimmy Carter Offers To Meet With Kim Jong-Un To Prevent War With North Korea

    With tensions once again flaring up between the United States and North Korea, it was reported Tuesday that former U. S. president Jimmy Carter has offered to meet with leader Kim Jong-un to discuss ways to achieve peace.
    The revelation comes by way of South Korean news outlet JoongAng Ilbo, which spoke with Park Han-shik, a prominent scholar on North Korean-related issues. Park previously helped Carter plan diplomatic trips to the country in 1994 and 2010.
    JoongAng Ilbo writes that Park met with the former president at his home in Georgia on September 28, and it was there that Carter reportedly expressed his wishes.

    This post was published at Zero Hedge on Oct 11, 2017.


  • OCT 10/GOLD AND SILVER ADVANCE: GOLD UP $8.90 AND SILVER IS UP 23 CENTS/CATALONIA DELAYS DECLARING INDEPENDENCE BUT MADRID STATES THAT THEY DID DECLARE AND THUS WILL INSTITUTE ARTICLE 155/SOUTH K…

    GOLD: $1291.40 UP $8.90
    Silver: $17.16 UP 23 CENT(S)
    Closing access prices:
    Gold $1288.10
    silver: $17.11
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1294.21 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1285.95
    PREMIUM FIRST FIX: $8.26 (premiums getting larger)
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1304.05
    NY GOLD PRICE AT THE EXACT SAME TIME: $1287.05
    Premium of Shanghai 2nd fix/NY:$17.00 (PREMIUMS GETTING LARGER)

    This post was published at Harvey Organ Blog on October 10, 2017.


  • Global Markets Bounce As Germany, China, Spain Lift World Stocks, Turkey Crash Ignored

    With no North Korean nuclear test over the weeknd contrary to a Friday morning rumor, S&P futures rebounded and edged higher as European stocks gain, led by Spanish shares after mass demonstrations in favor of Spanish unity and speculation Catalonia may back down on unilateral independence demands, while Chinese mainland stocks reopened catching up to gains missed during the holiday week following last weekend’s RRR cut.
    World shares rose to start the week, with Chinese stocks hitting 21-month highs and the German index setting a new record, while political uncertainty triggered big moves in sterling, the Turkish lira and Spanish debt. US futures are also pushing higher in anticipation of the start of Q3 earnings season which begins later this week, with a number of Wall Street banks including JPMorgan, BofA and Citi set to report. While equities are open, the US bond market is closed today for the Columbus day holiday, while Asian markets were relatively quiet following holidays in Japan, South Korea and Taiwan.
    European stocks climbed at the start of a week in which investors were closely watching developments in Catalonia as well as U. S. earnings season kicks off. The Stoxx Europe 600 Index adds 0.23%, following four straight weeks of gains. All industry groups except miners climb. The IBEX 35 Index is up 1% as a senior member in the Catalan administration calls for dialogue with Spain, although the gauge is still down 1.2% since Catalans voted for independence in an illegal referendum. After a weekend of mass demonstrations in favor of Spanish unity, Raul Romeva, foreign affairs chief for the separatist government in Barcelona, insisted that the door was open for talks if Prime Minister Mariano Rajoy was willing to grasp the opportunity
    As Bloomberg breaks down local markets, 18 out of 19 Stoxx 600 sectors rise; 407 Stoxx 600 members gain, 171 decline. Top Stoxx 600 outperformers include: CaixaBank +2.6%, Centamin +2.5%, TDC +2.4%, Man Group +2.4%, Metro Bank +2.0%. The Stoxx Euro 600 Index also received a boost from data showing German industrial output rebounded from a summer lull with its best month in six years. The euro nudged higher, while most European bonds rose. Gold climbed and crude oil erased earlier gains.

    This post was published at Zero Hedge on Oct 9, 2017.


  • Market Talk- October 6th, 2017

    The end of a holiday week for markets in Asia. We have to wait until Monday to see mainland China, South Korea and Hong Kong’s reaction to the US NFP’s release and also the reaction to the turn of the US Dollar Index. Markets that were opened were seeing futures initial response trading firmer as the US number is ‘accepted’. Lets just concentrate on the afternoons events, as it only feels the markets just smelt the coffee and woken-up – now that the weekend is upon us!
    The alarm clock came in the shape of a negative headline number to the US No-Farm Payrolls at -33k, with a 13k upward revision to previous release. Unemployment rate (September) came in 4.2%, participation rate 63.1% and a +0.5% average hourly earnings increase. The response was higher bond yields, stronger US Dollar, weaker oil (probably because of the USD strength), marginally weaker gold price – although the bias remains negative. Still, many question this US rally and even more are awaiting (or hoping for) a pullback. This remains the most unloved rally in years and now the market questions, ‘Is the FED about to get the blame for ending the anguish’! We won’t hear until December, but meanwhile the continued speculation on who gets next FED Chair remains a top talking point.

    This post was published at Armstrong Economics on Oct 6, 2017.


  • Earthquake Detected Near North Korea Nuclear Test Site; China “Suspects Explosion”

    In what may be the latest major escalation involving North Korea – and potentially the nation’s 7th nuclear test – China’s earthquake administration said it detected a magnitude 3.5 earthquake in North Korea, which it suspects “was caused by an explosion”, raising fears that the rogue state has tested another nuclear bomb. The Chinese administration said in a statement on its website that the quake was recorded at a depth of zero kilometers, while Xinhua said the epicenter was in roughly the same place as a similar shallow earthquake on 3 September, which turned out to be caused by North Korea’s sixth and largest nuclear test.
    ***
    However, in analyzing the same earthquake, South Korea came to a different conclusion, and said it was likely to be natural or man-made such as a nuclear test. South Korea’s weather agency assessed the seismic activity as a natural event.
    “The quake is presumed to have occurred naturally,” an agency official said, according to South Korea’s Yonhap news agency. “A sound wave, which is usually generated in the event of an artificial earthquake, was not detected.”

    This post was published at Zero Hedge on Sep 23, 2017.


  • LIES, LIES & OMG MORE LIES

    ‘There are three types of lies – lies, damn lies, and statistics.’ – Benjamin Disraeli
    Every month the government apparatchiks at the Bureau of Lies and Scams (BLS) dutifully announces inflation is still running below 2%. Janet Yellen then gives a speech where she notes her concern inflation is too low and she needs to keep interest rates near zero to save humanity from the scourge of too low inflation. I don’t know how I could survive without 2% inflation reducing my purchasing power.
    This week they reported year over year inflation of 1.9%. Just right to keep Janet from raising rates and keeping the stock market on track for new record highs. According to our beloved bureaucrats, after they have sliced, diced, massaged and manipulated the data, you’ve experienced annual inflation of 2.1% since 2000. If you believe that, I’ve got a great real estate deal for you in North Korea on the border with South Korea.
    ‘Lies sound like facts to those who’ve been conditioned to mis-recognize the truth.’ ‘ DaShanne Stokes

    This post was published at The Burning Platform on Sept 17, 2017.


  • North Korea – The Crazy Boast Nobody Takes Seriously Anymore

    Gold has now declined with the constant threats from North Korea. The lastest missile was fired over Japan and reached an altitude of about 770km (478 miles), travelling 3,700km past the northernmost island of Hokkaido before landing in the sea, according to South Korea’s military. The UN Security Council convened an emergency meeting, and unanimously condemned the missile launch as ‘highly provocative’but did not add new sanctions which do not seem to do anything anyway.

    This post was published at Armstrong Economics on Sep 16, 2017.


  • Markets Ignore North Korea Missile Launch; Send Pound Soaring, Yen Tumbles

    S&P futures are slightly lower (ES -0.1%) as traders paid little attention to the latest missile test by North Korea on Friday, with shares and other risk assets barely moving, gold lower and focus rapidly returning to when and where interest rates will go up. Most global market are mostly unfazed, and the Korean Kospi actually closed up 0.4%, by the latest geopolitical escalation after a North Korean ballistic missile flew far enough to put the U. S. territory of Guam in range. European stocks edged fractionally lower while Asian shares advanced.
    As reported on Thursday evening, the main overnight event was North Kore’s launch of a missile which passed through Japan’s airspace and over Hokkaido, before landing in the Pacific Ocean. This initially prompted Japan to issue an emergency warning for its residents to seek shelter, while there were also reports that South Korea conducted its own missile firing test as a show of readiness. US military stated North Korean missile did not pose a threat to Guam and that the launch was an intermediate range ballistic missile. South Korean President Moon said will not sit idle on North Korea provocation and that South Korea has power to pulverize should
    North Korea provoke. On Friday morning, Russia also denounced the ‘provocative’ N. Korea missile test, according to the Kremlin. Meanwhile, North Korea stated that it will take stronger actions for its self-defence if the US continues to walk on current course.
    Still, markets are showing clear signs of habituation to missile launches and other provocative actions from North Korea, which has fired more than a dozen missiles this year and tested a nuclear device. Global equities climbed to a record high this week as earnings and confidence in economic growth overshadowed tensions on the Korean Peninsula. The MSCI All Country World Index is poised for its third week of gains in four. Meanwhile, recent economic data has been supporting of bullish positions, with yesterday’s CPI prints suggesting inflation may again be on the rebound. While China data this week softened, the signals from DM financial markets remain optimistic. As such, investors will look to U. S. retail numbers today for more clues about the policy path.

    This post was published at Zero Hedge on Sep 15, 2017.


  • Deflation and the Markets; are deflationary forces here to stay

    Machines are worshipped because they are beautiful and valued because they confer power; they are hated because they are hideous and loathed because they impose slavery. Bertrand Russell
    Manufacturing output continues to improve, even though the number of manufacturing jobs in the U. S. continues to decline and this trend will not stop. While some Jobs have gone overseas, the new trend suggests that automation has eliminated and will continue to eliminate a plethora of jobs. As this trend is in the early phase, the momentum will continue to build in the years to come.
    Machines are faster, cheaper and don’t complain; at least not yet. So from a cost cutting and efficiency perspective, there is no reason to stick with humans. This, in turn, will continue to fuel the wage deflation trend. Sal Guatieri an Economist at the Bank of Montreal in a report titled ‘Wage Against the Machine,’ states that automation is responsible for weak wage growth.
    ‘It’s unlikely that insecurities from the Great Recession are still weighing, given high levels of consumer confidence,’ he wrote. ‘However, automation could be a longer-lasting influence on worker anxieties and wages. If so, wages could remain low for a while, restraining inflation and interest rates.’
    Guatieri goes on to state that ‘The defining feature of a job at risk from automation is repetition’. This puts a lot of jobs at risk, many of which fall under the so-called highly skilled category today; for example, Accountants, Lawyers, Radiologists, X-Ray technician, etc.
    North American business order record number of robots
    In 2016, they order 35,000 robots, 10% more than in 2015. But that is nothing compared to China, which ordered 69,000 robots in 2016, South Korea ordered 38,000 and Japan for its small size ordered 35,000 robots. This proves that jobs are not going overseas but are being taken over by machines. Nothing will stop this trend; a trend in motion is unstoppable.

    This post was published at GoldSeek on Friday, 8 September 2017.


  • Gold, Yen Spooked After South Korea Scaremongers Looming North Korean Launch

    After President Trump’s modest de-escalation in the North Korea situation during the US day session, South Korea has decided to reignite the smoldering fires tonight.
    Scaremongering of “expectations of a Sept 9th ICBM missile launch,” which was widely known since it is a public holiday in North Korea, South Korea’s Prime Minister Lee Nak-yon warned ominously that there’s “not much time left until North Korea is fully nuclear-armed.”
    His words sent JPY and Gold higher…

    This post was published at Zero Hedge on Sep 6, 2017.


  • Trump Wants Tariffs! That Could Be Good for Gold

    Trump wants tariffs.
    That could be good for gold.
    According to a report on Axios last week, President Trump demanded tariffs during a recent White House meeting that included new chief of staff Gen. John Kelly.
    John, you haven’t been in a trade discussion before, so I want to share with you my views. For the last six months, this same group of geniuses comes in here all the time and I tell them, ‘Tariffs. I want tariffs.’ And what do they do? They bring me IP. I can’t put a tariff on IP.’
    Trump reportedly went on to assert ‘China is laughing at us.’
    Of course, Trump campaigned on a more protectionist trade policy. It’s starting to look like the president is more aggressively pursuing that goal. The administration has threatened to pull out of a trade deal with South Korea, and NAFTA negotiations appear to be going nowhere.

    This post was published at Schiffgold on SEPTEMBER 5, 2017.


  • Bond Yields Tumble On Trump Tweet

    Anxiety seems to be the word of the day in bond markets. While reports of North Korea moving its ICBMs managed to send 10Y Treasury yields 1bps lower, a Trump Tweet on building strategic forces in Japan and South Korea has sparked a solid bid in bonds, pushing 10Y back a 2.10% handle…
    Traders – or algos – are increasingly knee-jerking on these headlines…

    This post was published at Zero Hedge on Sep 5, 2017.


  • North Korea Seen Moving ICBM Into Position For Possible Launch: Report

    The USDJPY and 10Y yields snapped lower and gold kneejerked higher following the latest North Korea-related headline out of Bloomberg, according to which:
    NKOREA STARTS MOVING ICBM FOR POSSIBLE LAUNCH BEFORE SAT.:DAILY Bloomberg references a just released article in the Asia Business Daily, according to which North Korea started moving the ICBM-class missile, produced at a new Pyongyang research center, on Monday following Sunday’s thermonuclear test.
    The report confirms overnight intelligence from South Korea: recall first thing this morning, Yonhap reported that South Korea’s spy agency said it had detected that North Korea is making preparations for a possible intercontinental ballistic missile launch, a move that would further raise tensions a day after it conducted its sixth and most powerful nuclear detonation.
    Chang Kyung-soo, acting chief of the defense ministry’s policy planning office, told lawmakers on Monday that North Korea was making preparations for a missile firing, according to Bloomberg while Yonhap adds that South Korea’s spy agency said there was a chance the North could fire an ICBM into the Pacific Ocean, saying that the isolated state was able to conduct a nuclear test at any time.

    This post was published at Zero Hedge on Sep 5, 2017.


  • “Is This Time Different?”: Global Risk Pares Losses Despite Report Of Imminent N.Korea ICBM Launch

    Having started off with a sharp gap lower following Sunday’s news of the latest, 6th nuclear test by North Korea, global stocks and US futures pared losses in the overnight session, despite reports of North Korean preparations for yet another missile launch, while the yen trimmed its risk-off gains even as gold kept its upside and the South Korean Kospi closing 1.2% lower, with traders asking whether “this time will be different:, or inversely, will today’s market reaction will be a carbon copy of what happened last Monday, when stocks gapped sharply lower on North Korea missile launch fears, only to surge 1% by the end of the week, as shown in the chart below.

    Still, concern that U. S. President Donald Trump has few viable options to rein in North Korea has disrupted a three-week-long rally in emerging markets, sending stocks to the biggest loss since Aug. 11: The MSCI index of world stocks dropped 0.7%, led by consumer-discretionary and industrial-goods sectors, as the relative strength index, a measure of momentum, fell to 60 from 68 on Friday.

    This post was published at Zero Hedge on Sep 4, 2017.


  • “We’ll See” Trump Responds Asked If He’ll Attack N.Korea, May Halt Trade With Any Country Doing Business With Kim

    After President Trump condemned North Korea’s “hostile and dangerous” actions this morning, hours after the rogue state’s 6th nuclear test, and according to the Kim regime first test of a hydrogen bomb, the press wanted to know one thing: will the US attack North Korea? “We’ll see,” Trump responded, leaving church when a press pooler shouted a question about if he plans to attack North Korea. Earlier, commenting on Twitter, Trump called the country “a rogue nation which has become a great threat and embarrassment to China, which is trying to help but with little success”, although that statement too failed to provide clarity into what the next tactical step could be.
    As reported shortly after midnight ET, the latest North Korean provocation reinforced the danger facing America, Trump had said earlier in a series of tweets, adding that “talk of appeasement” is pointless. “They only understand one thing!” Trump wrote, without elaboration, as he prepared to meet later with his national security team. It was the first nuclear test since Trump took office in January.
    The precise strength of the explosion, described by state-controlled media in North Korea as a hydrogen bomb, has yet to be determined. According to the AP, South Korea’s weather agency said the artificial earthquake caused by the explosion was five times to six times stronger than tremors generated by the North’s previous five such tests. The impact reportedly shook buildings in China and in Russia.


    This post was published at Zero Hedge on Sep 3, 2017.