NEW YORK, Sept. 25 (Reuters) – COMEX gold futures climbed on Monday, after North Korea’s foreign ministry, said US President Trump’s recent remarks were equivalent to war on the DPRK.

New York December gold futures ended higher after the announcement, New York time on September 25 13:30 (Beijing time on September 26 01:30), COMEX December gold futures closed up $ 14.0 or 1.1%, the settlement price $ 1,311.50 an ounce.

Last week, gold recorded the worst weekly performance since early July and has been declining for several weeks after reaching more than a year earlier this month.

North Korea’s foreign minister, Li Yonghao, said US President Trump’s remarks were clearly a declaration of war against North Korea, and that country retained its power to shoot down US strategic bombers in its airspace.

White House spokesman Sanders said North Korea’s remarks were “ridiculous” and the United States did not declare war on North Korea.

Monday’s remarks sparked a hedge demand for gold and other assets, and gold was favored when geopolitical lack of stability.

“The gold market will remain limited due to the impact of the North Korean situation,” said Jim Wyckoff, senior analyst at Kitco Metals.

Li Yonghao made a speech before the gold slightly, after investors did not care about the weekend issued a warning.

In the German election on the weekend, Prime Minister Merkel won the re-election, but the right-wing political party support rate soared. Meckel led the Conservative Party’s support rate unexpectedly dropped to the lowest since 1949, the disintegration of the coalition government in the Social Democratic Party said it would switch to the opposition camp.

Many analysts have said that the future geopolitical conflict will provide support for gold prices. The recent contradiction between the United States and Iran has also been warming.

This week investors will focus on a series of speeches issued by officials of the Fed, hoping to find clues about the future monetary policy of the central bank.

Gold prices fell last week, as the Federal Reserve monetary policy meeting said December interest rate is still one of the options, and to maintain next year’s interest rate path is expected to remain unchanged.

At the end of the Federal Reserve’s latest monetary policy meeting, the dollar rose, and gold for dollar-denominated gold would be more expensive for buyers holding other currencies.

“Said the Federal Reserve last week that it was the most hawkist that I had heard over a period of time,” said Bob Haberkorn, senior market strategist at RJO Futures.

In other precious metals markets, the December silver contract closed up 16.3 cents at $ 17.147 an ounce.

October platinum futures closed up $ 8.1, settled at $ 940.2 an ounce.

December palladium futures closed down $ 10.15 at $ 909.70 an ounce.

As of September 25 closing, methanol FOB US Gulf 93.75-94.25 (312.1-313.8 US dollars / ton) cents / gallon, down 3 cents / gallon; methanol FOB Europe Rotterdam 259.5-260.5 (307.6-308.8 US dollars / ton) / Ton, down 2 euros / ton.

September 25, the United States WTI crude oil futures rose slightly in November, reported 52.22 US dollars / barrel, or 1.56 US dollars. Brent crude futures rose slightly in November, reported $ 59.02 / barrel, or $ 2.16.

First, the price trend

According to the business community statistics show that as of the weekend the domestic factory ex-factory price of 7887.5 yuan / ton, petrochemical manufacturers listed in the 7900 yuan / ton, which Mitsui listing 8,000 yuan / ton, this week manufacturers offer stability.

Second, analysis and comment

Products: domestic phenol market this week, stable market, the impact of environmental protection under the multi-on-demand procurement, near the weekend traders wait and see manufacturers price adjustment by the impact of the upstream cost of crude oil manufacturers offer a relatively high, the mainstream implementation of 7900 yuan / ton, the East China market Plate in the 7650 yuan / ton, Yanshan and Shandong area offer 7850-7900 yuan / ton, Henan and southern China offer at 8,000 yuan / ton, the cost of short-term high-level stability. Device: Phenolic device industry operating rate of Qi Cheng.

Industrial chain: East China benzene market negotiations 6150-6250 yuan / ton in the vicinity of this week, smooth; Shandong mainstream negotiations in the 6200-6250 yuan / ton, Jiangsu Province, hydrogenated benzene market negotiated to 6150-6200 yuan / ton, Down 200 yuan / ton; Shandong area to discuss benzene 6000-6100 yuan / ton, compared with last week fell 200 yuan / ton. Raw material prices of propylene is stable, Shandong market mainstream offer to 8000-8050 yuan / ton in the vicinity.

The downstream enterprises continue to safety supervision, the domestic bisphenol A device started 81%; other demand industries such as salicylic acid and nonyl phenol start load in general, phenolic resin industry to maintain low-load production.

Third, the market outlook forecast

Domestic phenol market conditions are light, traders on the market outlook in general, accompanied by shipping, the downstream double before the purchase of interest is still light, firm trading is limited. Waiting for the next week downstream stocking situation, the business of phenol analysts believe that short-term market conditions to maintain the phenol finishing.

September 22, the Asian region ethylene market prices, CFR Northeast Asia closing price rose 30 US dollars / ton, to close at 1349-1351 US dollars / ton; CFR Southeast Asia closing price rose 15 US dollars / ton, to close at 1219-1221 US dollars / ton