Commodities Update: Gold holds on to gains as tensions rise between US and North Korea

News Image

MG News | September 26, 2017 at 04:23 PM GMT+05:00

0:00

US Equities went down as North Korea treated US statements as a declaration of war against the hermit state, saying it has the authority to shoot any US planes entering in her Airspace.

Gold steadied on Wednesday after reaching its highest in weeks ever since tensions started mounting again over the Korean and US war of words. Investors flocked to safe investments, as equities saw a decline after announcements making war claims were sent out by North Korean Government via Twitter.

Spot gold was nearly unchanged at $1,310.01 per ounce at 0636 GMT, after earlier marking its highest since Sept. 20 at $1,313.54. It gained over 1 percent in the previous session.

U.S. gold futures for December delivery rose 0.2 percent to $1,313.70 per ounce.

Equities in US witnessed a sharp sell and prices for risk aevrse markets started to gather momentum as North Korea’s Foreign Minister said that the country is treating Donald Trump’s tweets as a declaration of war against her.

Asian shares withered and the yen firmed against the backdrop of rising tensions on the Korean Peninsula, and as investors awaited fresh signals about the U.S. monetary policy outlook.

Related News

Name Price/Vol %Chg/NChg
KSE100 138,665.50
299.28M
1.68%
2285.53
ALLSHR 85,699.50
778.48M
1.24%
1051.15
KSE30 42,353.14
103.20M
1.94%
806.91
KMI30 195,182.04
107.99M
1.81%
3462.27
KMIALLSHR 56,389.15
437.73M
1.01%
561.42
BKTi 38,422.98
17.31M
1.57%
595.37
OGTi 27,718.26
13.25M
0.17%
47.58
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,735.00 120,265.00
117,720.00
105.00
0.09%
BRENT CRUDE 69.62 69.63
68.27
1.10
1.61%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
0.95
0.99%
ROTTERDAM COAL MONTHLY 105.00 105.00
105.00
-0.15
-0.14%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.62 67.69
66.29
1.24
1.87%
SUGAR #11 WORLD 16.75 16.88
16.54
0.19
1.15%

Chart of the Day


Latest News
July 17, 2025 at 09:25 PM GMT+05:00

Auto financing in Pakistan rises to Rs277bn in June


July 17, 2025 at 09:08 PM GMT+05:00

SBP reserves rise to $14.53bn in a week


July 17, 2025 at 05:11 PM GMT+05:00

Gold price in Pakistan falls Rs900 per tola


July 17, 2025 at 04:53 PM GMT+05:00

PSX calls for market feedback on free-float reforms


July 17, 2025 at 04:30 PM GMT+05:00

KTML Board proposes share sub-division to Rs2 face value



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg