MTECHTIPS;-Gold jumps to 10-month high as North Korea missile launch

MTECHTIPS;-Gold jumps to 10-month high as North Korea missile launch rattles markets

MTECHTIPS-Gold prices rallied to their highest level in almost ten months on Tuesday, as investors piled into safe-haven assets after North Korea fired a missile that passed over northern Japan. Geopolitical risks can boost demand for safe-haven assets such as gold which is considered a good store of value during volatility in other markets. Comex gold futures jumped $11.10, or around 0.9%, to $1,326.52 a troy ounce by 3:15 AM ET (0715 GMT). It rose to its highest since early November at $1,330.00 earlier. Gold prices gained around 1.3% on Monday, its biggest one-day percentage rise since mid-May.North Korea fired a missile early on Tuesday that flew over Japan and landed in waters off Hokkaido, in a sharp escalation of tensions on the Korean peninsula. The last time a projectile from the hermit state flew over Japan was 2009. The U.S., Japan and South Korea asked for a United Nations Security Council meeting to discuss the test, diplomats said. A meeting of the 15-member Security Council would be held later in the day, they said. Global markets were shaken earlier this month after President Donald Trump cautioned that North Korea would be met with “fire and fury” if it continued to make threats against the U.S
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