Johannesburg/London — Gold prices climbed to two-month highs on Friday as investors sought refuge from escalating tensions between North Korea and the US, while bullion also received support from weak US inflation data.US President Donald Trump issued a new threat to North Korea, saying American weapons were "locked and loaded" as Pyongyang accused him of driving the Korean Peninsula to the brink of nuclear war. Spot gold was up 0.1% at $1,287 per ounce by 2.17pm GMT, set for its biggest weekly gain since April. It earlier hit its highest since June 7 at $1,291.86.US gold futures gained 0.2% to $1,292.70."There is a continuation of flight to the safe havens after remarks on Thursday evening from Trump about North Korea," said Quantitative Commodity Research consultant Peter Fertig."It’s not very likely that these tensions will ease in the near future so the outlook seems supportive for gold." Geopolitical risks can boost demand for assets considered safe-haven investments, such as g...
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