Safe haven gold extends rally to 11-month high after North Korea nuke test and U.S. warns of ‘massive’ response
Asian and European stocks fall, bonds flat, gold, silver, palladium, Swiss franc riseas Korea tensions flare asNorth Korea tests ‘hydrogen bomb’
North Korea prepares for possible ICBM launch says S. Korea
U.S. warns of ‘massive,’ ‘overwhelming’ military response to North Korea after meeting with Trump
Trump weighing new economic sanctions that target China
Gold is consolidating above the $1,300/ozkey resistance level and building on 4% gain seen in August
Safe haven gold continued to eke out further gains of 0.73% today and reached its highest level in 11 months at $1,338.65/0z. The latest gains came after North Korea’s latest and most powerful nuclear test again sawinvestors diversify intosafe haven goldand other safe haven assets.
Asian and European shares have fallen and the geo-political risk led to thethe usual knee-jerk shift to safe havens pushing the yen, Swiss franc, gold and silver higher.
The Nikkei was down 0.93 and EuroStoxx 50 was down 0.45%. The Stoxx Europe 600 Index declined, with all industry sectors in the red.
The U.K.’s FTSE 100 Index dipped 0.3 percent and Germany’s DAX Index fell 0.5 percent. The MSCI All-Country World Index sank 0.2 percent, the largest dip in more than two weeks. Stock market futures suggest a difficult day for global equities.
The White House warned any nation doing business with Kim Jong Un’s regime would be met with economic sanctions and trade embargoes, and Trump’s defense chief said the U.S. has many military options.
Gold’s gains came after gold rose both last week and in August when gold and silver saw strong safe haven gains of 4% and 5% respectively.
Gold and Silver Bullion News andCommentary
Gold Prices (LBMA AM)
04 Sep: USD 1,334.60, GBP 1,030.98 & EUR 1,114.15 per ounce
01 Sep: USD 1,318.40, GBP 1,020.18 & EUR 1,106.85 per ounce
31 Aug: USD 1,305.80, GBP 1,013.17 & EUR 1,098.31 per ounce
30 Aug: USD 1,310.60, GBP 1,014.93 & EUR 1,096.71 per ounce
29 Aug: USD 1,323.40, GBP 1,020.34 & EUR 1,097.36 per ounce
25 Aug: USD 1,287.05, GBP 1,003.90 & EUR 1,090.90 per ounce
24 Aug: USD 1,285.90, GBP 1,003.26 & EUR 1,090.44 per ounce
Silver Prices (LBMA)
04 Sep: USD 17.80, GBP 13.75 & EUR 14.95 per ounce
01 Sep: USD 17.50, GBP 13.53 & EUR 14.69 per ounce
31 Aug: USD 17.34, GBP 13.47 & EUR 14.62 per ounce
30 Aug: USD 17.44, GBP 13.49 & EUR 14.60 per ounce
29 Aug: USD 17.60, GBP 13.59 & EUR 14.62 per ounce
25 Aug: USD 17.02, GBP 13.26 & EUR 14.40 per ounce
24 Aug: USD 16.93, GBP 13.20 & EUR 14.36 per ounce
Recent Market Updates
For your perusal, below are ourmostpopularguidesin 2017:
Please share our research with family, friends and colleagues who you think would benefit from being informed by it.
The post Gold Surges To $1338 as U.S. Warns of ‘Massive’ Military Response appeared first on GoldCore Gold Bullion Dealer.