Gold futures on the COMEX division of the New York Mercantile Exchange rose to new high on Thursday as U.S. dollar fell amid heightened tensions surrounding Korean Peninsula.
The most active gold contract for December delivery went up 8.10 dollars, or 0.62 percent, to settle at 1,322.20 dollars per ounce.
Tensions flared again on Thursday as the U.S. military sent strategic bombers and stealth fighter jets over South Korea for a joint bomb-dropping drill. The air exercises came two days after the Democratic People's Republic of Korea (DPRK) fired an intermediate-range ballistic missile over the northern Japanese island of Hokkaido.
U.S. President Donald Trump said "all options are on the table" following the DPRK's missile launch, and the latest show of force again prompted safe heaven demand for the gold.
The U.S. Dollar Index, a measure of the dollar against a basket of other major currencies, fell 0.14 percent to reach 92.72 as of 1954 GMT. When the dollar goes down, gold futures will rise.
As for other precious metals, silver for December delivery rose 7.2 cents, or 0.41 percent, to close at 17.575 dollars per ounce. Platinum for October went up 3.30 dollars, or 0.33 percent, to settle at 998.50 dollars per ounce.
The most active gold contract for December delivery went up 8.10 dollars, or 0.62 percent, to settle at 1,322.20 dollars per ounce.
Tensions flared again on Thursday as the U.S. military sent strategic bombers and stealth fighter jets over South Korea for a joint bomb-dropping drill. The air exercises came two days after the Democratic People's Republic of Korea (DPRK) fired an intermediate-range ballistic missile over the northern Japanese island of Hokkaido.
U.S. President Donald Trump said "all options are on the table" following the DPRK's missile launch, and the latest show of force again prompted safe heaven demand for the gold.
The U.S. Dollar Index, a measure of the dollar against a basket of other major currencies, fell 0.14 percent to reach 92.72 as of 1954 GMT. When the dollar goes down, gold futures will rise.
As for other precious metals, silver for December delivery rose 7.2 cents, or 0.41 percent, to close at 17.575 dollars per ounce. Platinum for October went up 3.30 dollars, or 0.33 percent, to settle at 998.50 dollars per ounce.
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