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Gold is stable near a two-month high supported by North Korea's tensions

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rocky
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Gold is stable near a two-month high supported by North Korea's tensions

Post by rocky on Fri 11 Aug 2017, 3:25 am

Gold is stable near a two-month high supported by North Korea's tensions


10:49 - 11/08/2017


Gold prices held steady after touching their highest levels in more than two months on Friday, as tensions between the United States and North Korea increased, prompting investors to buy precious metal as a safe haven.

"Most of the (gold) gains are due to increased demand for safe havens," said Barnabas Jan, an analyst at OCPC.

Spot gold fell 0.1 percent to $ 1284.64 an ounce by 0616 GMT, but is heading for weekly gains of more than 2 percent.

Earlier in the session, the yellow metal hit its highest level since June 8 at $ 1288.92 an ounce.

Gold posted little change in US December delivery contracts to settle at $ 1290.50 an ounce.

Among other precious metals, silver fell 0.3 percent to $ 17.04 a troy ounce after hitting its highest level since June 14 at $ 17.24 an ounce in the previous session. The metal is heading for weekly gains of more than 5 percent, the largest of its kind since July 2016.

Platinum rose 0.4 percent to $ 980.10 an ounce after touching its highest level since April 18 at $ 984.60 an ounce during the session. The metal has gained about 2 percent since the start of the week

http://www.almaalomah.com/2017/08/11/183564/

    Current date/time is Wed 16 Aug 2017, 8:49 pm