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(Kitco News) – World stock markets were mostly weaker overnight, in the wake of the Dow Jones Industrial Average setting a record high above 22,000 on Wednesday.
U. S. stock indexes are pointed toward narrowly mixed openings when the New York day session begins.
Gold prices are solidly lower in pre-U. S.-session trading, on profit taking from recent gains and amid a quieter geopolitical front this week.
In a worrisome report overnight, the Paris-based OECD think tank said global inflation in the 20 largest countries has dropped to its lowest level in eight years. The OECD said consumer prices in the group of countries rose at a 2.0 rate in June, from a year earlier. This news falls into the camp of the monetary policy doves who do not want the major central banks of the world to tighten their monetary policies. The OECD June reading on consumer inflation was up 2.2%.
This post was published at Wall Street Examiner by Jim Wyckoff ‘ August 3, 2017.