Gold futures on the COMEX division of the New York Mercantile Exchange continued to rise on Thursday amid stock losses over political turmoil in Washington and the terrorist attack in Barcelona.
The most active gold contract for December delivery went up 9.5 U.S. dollars, or 0.74 percent, to settle at 1,292.40 dollars per ounce.
The precious metal has kept its upturn for the second straight day as the Dow Jones Industrial Average went down 165.67 points, or 0.75 percent, to 21,859.20 as of 1836 GMT. When equities post losses, the gold futures usually goes up as a result of increasing heaven demand.
Analysts contributed the heaven demand to turmoil in Washington as President Trump's handling of the racially motivated protests in Charlottesville, Virginia, even raised eyebrows among his fellow republicans.
Investors now have doubts over President Trump's ability to get through his business-friendly legislative reforms after he disbanded two White House advisory committees, members of which had resigned one by one in response to the president's controversial remarks on Charlotesville violence.
Gold futures received additional support as news spread that a van attack in Barcelona killed at least 12 people, leaving some 80 injured. A Moroccan man living in Spain was arrested as a suspect linked to the terror attack.
As for other precious metals, silver for September delivery went up 11.3 cents, or 0.67 percent, to close at 17.053 dollars per ounce. Platinum for October rose 7.2 dollars, or 0.74 percent, to settle at 981.7 dollars per ounce.
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