Gold edges to two-month highs

India Infoline News Service | Mumbai | August 13, 2017 08:00 IST

Rising tensions amid US and North Korea buoyed the demand for gold in spot and futures market pushing the prices to trade in two-month highs.

Rising tensions amid US and North Korea buoyed the demand for gold in spot and futures market pushing the prices to trade in two-month highs.

US President Donald Trump issued a new threat to North Korea, saying American weapons were "locked and loaded" as Pyongyang accused him of driving the Korean Peninsula to the brink of nuclear war.



Spot gold was up 0.28% at USD 1,289.63 per ounce, set for its biggest weekly gains since April. It earlier hit its highest since June 8 at USD 1,288.97 an ounce.

US gold futures for December delivery settled at USD 1,294 per ounce.

Geopolitical risks can boost demand for assets considered safe-haven investments, such as gold. The metal got an extra boost after data showed U.S. consumer prices rose less than expected in July.

Silver rose 0.13% to USD 17.10 per ounce after hitting USD 17.24, it’s highest since June 14, in the previous session.

Platinum climbed 1.07% to USD 986.90, its highest since April 18. It was up about 2% for the week so far.

Palladium fell 0.27% to USD 894.10 per ounce and was on track to end the week 2.3% higher.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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