Gold futures for August delivery in the New York Mercantile Exchange rose 65,438+0.2% to 65,438+0.309.80 USD/oz on Thursday. It is the biggest increase since April 2. Last week, gold fell below $65,438+$0.300 per ounce for the first time this year.
The White House issued a statement on May 24th, saying that US President Trump cancelled the meeting with North Korean leader Kim Jong-un in Singapore on June 12.
In a letter to Kim Jong-un released on Thursday, Trump wrote: "Sadly, based on the anger and open hostility shown in your recent statement, I don't think it is appropriate to hold this long-planned meeting at this time."
In recent days, people's doubts about whether this summit can be held have increased. Earlier, North Korea suddenly canceled talks with South Korea because they were angry at the joint military exercise between the DPRK and the United States.
Trump wrote in the letter: "You are talking about your nuclear capabilities, but our capabilities are so huge and powerful that I pray to God that they will never be used." Trump also said that canceling the summit "missed a good opportunity" was "a very sad moment in history".
COMEX's most active gold futures contract was sold in one minute at 2 1:50 Beijing time on Thursday 10 197 lots, and the total value of trading contracts exceeded1300 million USD! COMEX's most active gold futures contract was sold in four minutes from 2 1:52 to 2 1:55 Beijing time 12423 lots, and the total value of trading contracts exceeded 654,380+06 billion US dollars.
US President Trump said late on Thursday that the US military will be "ready" after he cancelled the scheduled summit with North Korean leader Kim Jong-un, which will further strain the already tense relationship between the United States and the DPRK.
Speaking at the White House a few hours after sending a letter to Kim Jong-un to cancel the summit, Trump said: "Although many things can happen and there are still great opportunities in the future, I think this is a huge setback for North Korea. In fact, it is also a setback for the world."
Trump's remarks on Thursday were closer to the more radical stance he took last year, when he threatened to bring "fire and anger" to North Korea and "little rocket man" Kim Jong-un.
The Wall Street Journal (blog, Weibo) reported on Thursday night that the Trump administration is considering imposing new sanctions on North Korea as early as next week.
Trump said that he has communicated with Defense Minister Matisse and leaders of South Korea and Japan. He said that if necessary, the US military is "ready", and the two Asian allies are "not only ready to deal with North Korea's stupid or reckless behavior, but also willing to bear most of the costs or burdens".
This week, the latest conflict between Washington and Pyongyang escalated, and Vice President Mike Pence warned that the North Korean regime might end like former Libyan leader Muammar Gaddafi. Gaddafi's government was overthrown years after agreeing to abandon its embryonic nuclear weapons program.
In a statement issued earlier on Thursday, North Korea's Deputy Foreign Minister Cui Shanhui warned that if the June 12 talks were cancelled, the United States would have a "nuclear showdown" with North Korea. In a statement, Cui Shanji said that North Korea may reconsider the summit meeting with the US president because of "stupid and ignorant remarks" made by US Vice President Mike Pence.
In addition, due to the dove wording in the minutes of the Fed meeting on Wednesday, the dollar weakened and the yield of US bonds fell, which also supported the rebound of gold prices. In late new york on Thursday, the spot index of Peng Boyuan fell by 0.2%.
According to the minutes 1-2 of the May FOMC)5 policy meeting released on Wednesday, Fed officials said that the economic outlook will ensure another rate hike "soon" and hinted that they would welcome a moderate inflation target of more than 2%, indicating that they are in no hurry to tighten monetary policy more actively.
In a report released on Thursday, BMO Capital Market said that the minutes of the Fed meeting released on Wednesday were constructive for gold because they did not mean the acceleration of monetary tightening.
The Bank of Montreal said: "Reading the minutes of the FOMC meeting is quite mild. We still expect to raise interest rates at the next meeting from June 12 to June 13, but there is no other information in the minutes of the meeting indicating that the pace of tightening is accelerating. This may provide some support for the recent price weakness.
Earlier on Thursday, Trump of the United States brewed new trade protection measures, which was also good for gold. The White House issued a statement saying that US President Trump instructed Commerce Secretary Ross to "consider launching a Section 232 investigation on imports of automobiles and auto parts, including trucks, to determine the impact of such imports on US national security."
Earlier, the media quoted sources as saying that the Trump administration is considering launching a 232 trade investigation on automobile imports on the grounds of national security, and the new tariff rate may reach up to 25%. According to the data of the US government, almost a quarter of the cars sold in the US are imported.
1962 article 232 of the trade expansion act gives the president of the United States the power to impose tariffs on imported products that endanger national security. However, successive governments have been very cautious in using this clause.