Gold marches higher as haven demand persists after Trump dissolves councils

Dollar little changed vs. rivals with FOMC meeting minutes on tap

Dollar little changed vs. rivals with FOMC meeting minutes on tap

Yields were already under downward pressure when details of the U.S. Fed July meeting, released late on Wednesday, showed concerns that soft inflation data may cool the pace of monetary tightening in the world's largest economy.

Federal Reserve Board Chair Janet Yellen has attributed low inflation to sharp, one-time declines in prescription drugs and cell phone plans, saying inflation is likely to inch toward the Fed's target rate soon. Investors also responded to solid economic data, including a better-than-expected report on retail sales on Tuesday.

The minutes' release coincided with Wednesday's collapse of White House business advisory councils, which were scrapped by President Trump in the wake of several high-profile resignations following his comments on a white supremacist rally in Virginia that turned violent.

The Dow Jones Industrial Average added 26 points, or 0.12%, to end at 22,025, the S&P 500 gained four points, or 0.14%, to 2,468 and the Nasdaq Composite added 12 points, or 0.19%, to 6,345.

Despite the greenback's waning chances of a rate hike, it still got a boost against its Canadian counterpart as it added 0.1 percent to 1.2637.

At 11 a.m. (1500 GMT), the benchmark 10-year Treasury yield was 2.261 percent, down half a basis point from late Tuesday, while the 30-year yield was 2.832 percent, down almost 1 basis point from Tuesday's close, Reuters data showed.

Kim delays decision on Guam missile plan
Ten days later, CIA Director Mike Pompeo hinted broadly that the Trump administration was seeking regime change in North Korea. Moon said his South Korean government "will put everything on the line to prevent another war in the Korean Peninsula".

Bond prices had declined earlier this week partly in response to easing tensions between the USA and North Korea.

The euro fell 0.5 percent to 1.1706 against the greenback after gaining 0.1 percent to $1.17820 in early Asian trade, and regaining from prior day's losses of $1.1681, its lowest level in nearly three weeks, while the British pound declined by 0.1 percent to 1.2864.

Germany's DAX, France's CAC 40 and the UK's FTSE 100 all fell 0.1%.

The kiwi was down 0.1 percent to 0.7299, after reaching a one-week high of 0.7335 overnight. Materials led the way with a 0.9% gain while energy was the laggard, down 1.1%, as the sector appears to be on the verge of an epic breakdown out of a two-year trading range.

- Gold rose 0.9 percent to $1,282.31 an ounce following two days of losses.

Financials stocks were also down 0.2% to round out the losers. The Fed's main gauge of inflation, the personal consumption expenditures price index, rose only 1.4 percent in May from the previous year.

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