Gold Futures Prices Set for Biggest Weekly Gain Since April Amid Tensions Beween N.Korea and US

Gold Futures Prices Set for Biggest Weekly Gain Since April Amid Tensions Beween N.Korea and US

Gold futures prices rise on Friday as geopolitical tensions between the United States and North Korea continued to raise demand for safe haven, while inflation data in July weakened expectations and reduced the possibility of a Fed rate hike this year.

Gold futures for December delivery on the Comex rose $3.40, or 0.26%, to $1,293.37 a troy ounce.

MCX Gold was trading 0.28 per cent up at Rs 29,257 per 10 gram.

US President Donald Trump issued a new threat to North Korea, stressing that US “locked and loaded” weapons also accused Pyongyang led by the Korean peninsula on the brink of nuclear war.

Trump’s latest threats from North Korea and has resulted in increased demand for gold for a safe haven, and raise the price of gold for the highest weekly gain in four months.

SPDR Gold Trust GLD latest holdings stood at 786.87 tonnes, down 0.27 tonnes, from previous business day.

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