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Gold is stable at the highest level in about 7 weeks
12:43 - 31/07/2017
Gold prices on Monday stabilized near a seven-week high due to tensions on the Korean Peninsula, boosting demand for the yellow metal as a safe haven as the dollar hovers around its lowest level in several months.
Two US-based B-1 bombers flew over the Korean Peninsula in a show of force on Sunday and the US ambassador to the United Nations said China, Japan and South Korea needed to do more after Pyongyang's latest missile tests.
Gold hit the highest level since June 14 in spot trade at $ 1270.98 an ounce in early trading and by 0656 GMT it was down 0.1 percent at $ 1267.93 an ounce.
The yellow metal rose 1.1 percent last week to gain for a third week in a row.
Among other precious metals, silver rose 0.3 percent to $ 16.71 an ounce. The metal rose 1.2 percent last week, posting gains for the third week in a row as well.
Platinum climbed 0.7 percent to $ 935.25 an ounce after falling about 0.5 percent last week. Palladium rose 1.1 percent to $ 886.72 an ounce after rising 3.8 percent last week. Ending / 25
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12:43 - 31/07/2017
Gold prices on Monday stabilized near a seven-week high due to tensions on the Korean Peninsula, boosting demand for the yellow metal as a safe haven as the dollar hovers around its lowest level in several months.
Two US-based B-1 bombers flew over the Korean Peninsula in a show of force on Sunday and the US ambassador to the United Nations said China, Japan and South Korea needed to do more after Pyongyang's latest missile tests.
Gold hit the highest level since June 14 in spot trade at $ 1270.98 an ounce in early trading and by 0656 GMT it was down 0.1 percent at $ 1267.93 an ounce.
The yellow metal rose 1.1 percent last week to gain for a third week in a row.
Among other precious metals, silver rose 0.3 percent to $ 16.71 an ounce. The metal rose 1.2 percent last week, posting gains for the third week in a row as well.
Platinum climbed 0.7 percent to $ 935.25 an ounce after falling about 0.5 percent last week. Palladium rose 1.1 percent to $ 886.72 an ounce after rising 3.8 percent last week. Ending / 25
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