Commodities Update: Gold contains; Silver unmoved

Gold prices contained on Wednesday after falling to their lowest on Tuesday to their lowest levels since 1st September. Prices for gold have risen sharply amidst rising tensions between US and North Korea.

Prices for Spot Gold dropped sharply on Monday and Tuesday this week as tensions quelled after North Korean meia did not report any missile tests as expected by the international observers.

However, Gold prices were at $1331.92 up by 25 bases from previous close in the first session after UN unanimously approved sanctions against North Korea. Prices for Gold have increased by 3.16 percent in last 30 days, as investors have flocked to Gold after US announced it is considering military solutions against North Korea. Currently, US has installed anti ballistic missiles on 38th North Parallel to counter any offensive from North Korea.

Silver spot prices in the international markets were relatively unmoved as the white metalcontinues to trade at $17.89 up by 0.03 dollars from previous close. Prices for Silver have been steadily moving up, +4.5% in the last thirty days as demand continues to push the price upward. 

Posted on: 2017-09-13T14:52:00+05:00