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Gold surges to a nine-and-a-half-month high as tensions mount
29/08/2017
Gold prices rose for a third consecutive session on Tuesday to their highest level since November as geopolitical tensions escalated after North Korea launched a new missile, boosting demand for safe assets and putting pressure on the dollar and stocks.
By 0627 GMT, spot gold rose 0.6 percent to $ 1317.47 an ounce after hitting $ 1322.33 an ounce earlier, the highest level since Nov. 9.
Gold rose 1.4 percent in the previous session, posting its highest daily percentage gain since mid-May.
Gold futures for December delivery rose 0.6 percent to $ 1,323 an ounce.
The precious metal also gained support from the ambiguity surrounding President Donald H. Trump's administration after his comments on the government's closure raised concerns last week.
Among other precious metals, silver rose 0.4 percent to $ 17.48 an ounce. Silver rose to $ 17.56 an ounce earlier in the session, its highest level since early June.
Platinum rose 0.3 percent to $ 989.60 an ounce after climbing to its highest level since early March to $ 994.10 an ounce earlier on Tuesday.
Palladium rose 0.7 percent to $ 939.50 an ounce after hitting a near-16-year high of $ 940.50 an ounce on Friday.
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