London — The price of gold climbed to the highest levels in two months on Thursday as the United States and North Korea exchanged more threats, prompting investors to buy bullion as a safe haven asset. "For now, the uptrend is very much intact in gold, reacting to external geopolitical events," said Jonathan Butler, commodities analyst at Mitsubishi in London. The spot gold price was up 0.7% at $1,286.07 per ounce by 2pm GMT, after hitting an earlier high of $1,286.40, its highest level since June 8. The price rose 1.3% in the previous session, the biggest gain since mid-May. US gold futures for December delivery climbed 1% to $1,291.80 per ounce. Gold extended gains after data showed US producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase. The market was waiting for US consumer inflation data on Friday that would offer more clues about futu...
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