US-North Korea tussle gives extra glitter to gold
DSIJ Intelligence / 12 Aug 2017
The demand for gold in the spot and futures market has escalated, thus driving the prices to two-month highs.
The demand for gold in the spot and futures market has escalated, thus driving the prices to two-month highs. This has been triggered by the increasing tension between the US and North Korea with US President Donald Trump issuing a new threat, stating that its weapons are “locked and loaded” for the eventuality of a war.
The price of 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. The US gold futures for December delivery were at USD 1,294 per ounce. Meanwhile, the price of silver increased 0.13% to USD 17.10 per ounce after hitting its highest since June 14 at USD 17.24. Platinum scaled up by 1.07% to USD 986.90, which was its highest since April 18. Palladium fell 0.27% to USD 894.10 per ounce and set to end the week with an increase of 2.3%.
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