Gold holds steady near fresh highs as Trump turns up the heat on North Korea
Bengaluru — Gold prices held steady after touching their highest in more than two months on Friday and were on track for a weekly gain, buoyed as rising tension between the US and North Korea triggered safe-haven buying. "Much of the rally (in gold) is because of the increased safe-haven demand," said OCBC Bank analyst Barnabas Gan. Trump warned North Korea again on Thursday not to strike Guam or US allies, saying his earlier threat to unleash "fire and fury" on Pyongyang if it launched an attack may not have been tough enough. Geopolitical risks can boost demand for assets considered safe-haven investments, such as gold. Spot gold was nearly flat at $1,285.76 an ounce at 4.47am GMT and was set for a weekly gain of more than 2%. Earlier in the session, it marked its highest since June 8 at $1,288.92/oz. US gold futures for December delivery rose 0.2 percent to $1,291.80 per ounce. "Traders should closely watch global equities today, with further falls and risk aversion likely pumpin...
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