• US president Trump addresses UN general assembly
  •  Calls North Korea a “depraved regime”
  • Iran must be “addressed”

US president Donald Trump has delivered a quite extraordinary speech to the UN general assembly during which he pulled no punches in going after both North Korea and Iran. Selected comments are as follows:

  • Rogue regimes represented in this body threaten other nations with most destructive weapons known to humanity
  • We will always put America first
  • North Korea’s pursuit of missiles threatens the whole world
  • We must do more on North Korea. US is ready, willing and able for military action
  • If US is forced to defend itself or allies we will have no choice but to totally destroy North Korea 
  • Iran nuclear deal an embarrassment to the United States

There has been little by the way of market reaction to these quotes, despite their inflammatory nature. This is probably due to there being little by the way of new developments here despite the aggressive rhetoric. Gold has risen slightly during the speech after the market hit its lowest level of the month yesterday at 1304.

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Gold remains near its lowest level in a month despite Trump’s aggressive speech. Source: xStation

It remains the case that tomorrow’s Fed meeting will probably be the biggest driver of Gold going forward – read our preview here.