MTECHTIPS;-Gold Prices Start the Week onUpbeat Note Amid North Korea

MTECHTIPS;-Gold Prices Start the Week on Upbeat Note Amid North Korea Worries

MTECHTIPS-Gold prices started the week on an upbeat note on Monday, as investors fretted about the simmering tensions between the U.S. and North Korea. North Korea’s leader Kim Jong Un said his nuclear weapons were a “powerful deterrent”that guaranteed its sovereignty, state media reported on Sunday, hours after U.S. President Donald Trump said “only one thing will work” in dealing with the isolated country. Trump did not make clear to what he was referring, but his comments seemed to be a further suggestion that military action was on his mind. In recent weeks, the hermit state has launched two missiles over Japan and conducted its sixth nuclear test, and may be fast advancing toward its goal of developing a nuclear-tipped missile capable of hitting the U.S. mainland. A Russian lawmaker who had just returned from a visit to Pyongyang was quoted as saying on Friday that North Korea is preparing to test-launch such a missile. Comex gold futures tacked on $9.00, or around 0.7%, to $1,283.89 a troy ounce by 2:45 AM ET (0645 GMT). There will be no floor trading on the Comex on Monday because of the Columbus Day holiday in the U.S. All electronic transactions will be booked with Tuesday’s trades for settlement

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