MTECHTIPS:-Goldgains in Asia as N Korea tensions spur safe-havedemand

MTECHTIPS:-Gold gains in Asia as N Korea tensions spur safe-have demand

MTECHTIPS-Gold prices gained in Asia on Monday after North Korea at the weekend claimed to have tested a hydrogen bomb, raising regional global tension on concerns of a military conflict that could involve Japan, South Kore, the United States and China. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose 0.74% to 1,340.26 a troy ounce. Investors are keeping an eye on a U.N. Security Council meeting later on Monday for a new set of sanctions on Pyongyang and a possible sterner stance by erstwhile ally China. Last week, gold prices remained close to nine-and-a-half-month highs on Friday, shrugging off a rebound in the dollar, as a weak nonfarm payrolls report fuelled demand for the precious metal. Gold pared some its gains, following its move to a nine-and-half-month high, as market participants downplayed the impact weak job and wage growth in August could have on the Federal Reserve’s plans to hike rates later this year. The U.S. economy created 156,000 jobs in August, missing consensus estimates for the creation of 180,000 jobs. The jobless rate unexpectedly rose in August to 4.4% while average hourly earnings fell short of expectations, slowing to 0.1% from 0.3% in the prior month
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