Gold almost at year high after concern about North Korea spurs buying
London — Gold prices shot up on Monday to their highest in nearly a year as investors bought safe-haven assets, amid worries that North Korea might launch more missiles in the wake of its sixth and largest nuclear test. A weaker dollar also underpinned gold, which was likely to continue to rally in coming days, according to Tom Kendall, head of precious metals strategy at ICBC Standard Bank. "We’ve got the geopolitics and we’ve also got a fairly benign interest rate environment. There’s still nothing threatening coming out of the Fed recently," he said. Spot gold was up 0.9% at $1,336 per ounce by 9.15am GMT, after earlier touching its strongest level since late September last year at $1,339.47. US gold futures for December delivery were up 0.8% at $1,341.30 an ounce. South Korea said on Monday it was talking to the US about deploying aircraft carriers and strategic bombers to the Korean peninsula after signs North Korea might launch more missiles. The next technical target for spot...
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