MTECHTIPS:- Gold jumps to 12-month high after latest North Korea

MTECHTIPS:- Gold jumps to 12-month high after latest North Korea missile test

MTECHTIPS – Gold prices rallied to their highest level in around twelve months on Monday, as investors piled into safe-haven assets after North Korea said it tested a hydrogen bomb over the weekend. Geopolitical risks tend to 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 $11.90, or around 0.9%, to $1,342.30 a troy ounce by 2:45 AM ET (0645 GMT), after touching its best level since September 27, 2016 at $1,343.50 earlier. Gold climbed on Friday, tallying a weekly gain of more than 2%. Elsewhere on the Comex, silver futures climbed 12.3 cents, or around 0.7%, to $17.93 a troy ounce, the strongest level since April 25. North Korea conducted its sixth and most powerful nuclear test to date on Sunday, which it said was a successful detonation of an advanced hydrogen bomb, in a dramatic escalation of the isolated state’s stand-off with the U.S. and its allies
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