Gold gains amid rising US – North Korean tensions

Gold picked up on Monday touching highest levels during the week, after tensions mounted between North Korea and US heightened after both president entered into a spat publicly. The rising tensions prompted investors to look fro safe haven investments. The pressure mounted on Dollar as well.

Spot gold was up 0.63 percent to $1,283.28 an ounce, after earlier touching its highest since Sept. 29.

U.S. gold futures for December delivery gained 0.8 percent to $1,284.80 per ounce.

Geopolitical risks tend to increase demand for save investments, including Gold and the Japanese Yen. Prices for Gold declined during last week as equities soared, and Fed informed of an expected hike in December meeting.

The North Korean President said that, the nuclear capabilities that he has are enough to deter any advance form United States, the statement was in an answer to Donald Trump’s statement that “only one thing will work”.

In other metals, silver was up 0.66 percent at $16.89 an ounce and was near its highest in nearly two weeks.

Platinum and palladium were both up nearly 0.4 percent, at $915.74 an ounce and $924.90 an ounce, respectively.

Posted on: 2017-10-09T16:30:00+05:00