World stock markets were mostly weaker and tried to stabilize Tuesday after the sharp sell-off in U. S. and European equities on Monday. Asian stock markets followed on Tuesday by trading lower. Markets in China are still closed for the Lunar New Year holiday. U. S. stock indexes are pointed toward weaker openings when the New York day session begins.
Gold prices are posting good gains Tuesday morning, on safe-haven demand amid the world stock market selling pressure.
The world marketplace is still uneasy regarding executive moves the new U. S. president has made. President Donald Trump on Monday fired the acting U. S. attorney general when she refused to support his immigration ban. This seemingly growing uncertainty, including related world stock market weakness, is a mildly bullish element for the safe-haven gold market.
In overnight news, Euro zone gross domestic product in the fourth quarter was up 0.5% from the third quarter and was up 1.8%, year-on-year. Those numbers were just above market expectations. The Euro zone January consumer price index was up 1.8% versus up 1.1% in December.
This post was published at Wall Street Examiner on January 31, 2017.
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