Gold futures on the COMEX division of the New York Mercantile Exchange rose to the highest in nearly two months on Wednesday amid a war of words between the United States and the Democratic People's Republic of Korea (DPRK).
The most active gold contract for December delivery rose 16.7 U.S. dollars, or 1.32 percent, to settle at 1,279.30 dollars per ounce.
DPRK's recent threat to launch a missile strike at U.S. territory Guam has helped to elevate haven buying in global financial markets.
Pyongyang's statements followed U.S. President Donald Trump's late-Tuesday afternoon vow to respond to DPRK with "fire and fury like the world has never seen" if it doesn't cease its threatening posture, which includes a series of ballistic missile tests.
The rally came after Tuesday's drop to a two-week low on better-than-expected U.S. jobs data, while investors awaited U.S. inflation figures later this week for further clues about the pace of interest rate rises.
As for other precious metals, silver for September delivery added 47.4 cents, or 2.89 percent, to close at 16.863 dollars per ounce. Platinum for October went up 1.6 dollars, or 0.16 percent, to settle at 976.1 dollars per ounce.
The most active gold contract for December delivery rose 16.7 U.S. dollars, or 1.32 percent, to settle at 1,279.30 dollars per ounce.
DPRK's recent threat to launch a missile strike at U.S. territory Guam has helped to elevate haven buying in global financial markets.
Pyongyang's statements followed U.S. President Donald Trump's late-Tuesday afternoon vow to respond to DPRK with "fire and fury like the world has never seen" if it doesn't cease its threatening posture, which includes a series of ballistic missile tests.
The rally came after Tuesday's drop to a two-week low on better-than-expected U.S. jobs data, while investors awaited U.S. inflation figures later this week for further clues about the pace of interest rate rises.
As for other precious metals, silver for September delivery added 47.4 cents, or 2.89 percent, to close at 16.863 dollars per ounce. Platinum for October went up 1.6 dollars, or 0.16 percent, to settle at 976.1 dollars per ounce.
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