"But looking ahead unless we start to see a conflict break out or a major stock market correction, (gold) is capped at 1,295 (although) the upside at moment is the favored direction".
Significant strength was also visible among software stocks, as reflected by the 1.2% gain posted by the Dow Jones Software Index. Small-company stocks fell more than the rest of the market.
The Vix, a measure of how much volatility investors expect in stocks, jumped to its highest level since May. But by the end of the day, traders appeared to take the geopolitical drama in stride.
Dow e-minis were up 6 points, or 0.03 percent, with 29,187 contracts changing hands at 8:34 a.m. ET (1234 GMT). The Dow Jones industrial average lost 0.15 percent, with the tech-heavy Nasdaq composite index declining 0.21 percent. Earlier, the average had been down more than 88 points.
The Nasdaq Composite Index, the hardest hit equity gauge on Thursday, climbed 36 points, or 0.6%, to 6,252. Shanghai's main index also tumbled 1.6 percent to 3,208.54 while Australia's S&P/ASX 200 dropped 1.2 percent to 5,693.10.
Paris to consider video games for 2024 Olympics
Estanguet also had some thoughts for esports skeptics out there: "We have to look at it because we can't say, 'It's not us". By 2022, it will become an official sport at the event, although it is unknown which games would be contested.
Excluding food and energy prices, core consumer prices still crept up by 0.1% in July, matching the increases seen in the three previous months. The yield on the 10-year Treasury note held steady at 2.26 percent.
Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4%. Shares of Macy's lost 10% and Kohl's fell 5.8%.
U.S. stocks deepened their losses following the latest Trump comments, and the S&P 500 volatility index, known unofficially as the "fear index", rose decisively. The sell-off was widespread, with shares in financial and consumer companies leading the declines.
Shares of SeaWorld Entertainment Inc. slid 6.2 percent after the theme park operator reported second-quarter revenue that fell short of Wall Street's expectations.
Watch maker Fossil Group plunged 25 percent after reporting a weak quarter. The company booked a hefty charge and said its CFO is leaving. Hong Kong's Hang Seng shed 2% Friday and lost 2.5% for the week - its biggest weekly decline of the year.
China "displeased" as US Navy destroyer passes near artificial island
In July, a U.S. warship sailed near a disputed island in the South China Sea claimed by China, Taiwan, Vietnam. McCain " past an island in the disputed Spratly chain in the South China Sea, US officials told media.
Health-care stocks, which have been in a slump, posted gains.
The Russell 2000 is up 15.41 points, or 1.1 percent.
OIL: Benchmark U.S. crude gained 13 cents to $49.69 a barrel on the New York Mercantile Exchange. Brent crude, used to price worldwide oils, gained 10 cents to $52.24 in London. Against the euro, the dollar is valued at $1.826 compared to yesterday's $1.1772. The September copper contract was down two cents to US$2.91 a pound.
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Gold soars as the U.S. and North Korea wage a verbal war
Traders snapped up shares in companies that delivered strong quarterly results. Germany's DAX dipped 0.1 per cent as the CAC 40 fell 1.1 per cent in Paris.
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