Gold set to end the week lower, despite safe-haven bounce on North Korean fear
Bengaluru — Gold rebounded from a four-week low on Friday as the latest twist in tension between the US and North Korea prompted investors to seek out the safe-haven asset.The metal was, however, headed for a second weekly decline.Spot gold was up 0.4% at $1,296.58 an ounce, as of 4.08am GMT. In the previous session, it marked its lowest since August 25 at $1287.61. US gold futures for December delivery climbed 0.4 percent to $1,299.80 an ounce.US President Donald Trump ordered new sanctions against North Korea on Thursday and Pyongyang’s leader defiantly vowed to persist with its nuclear and missile programmes and said it would consider measures against the US. On Friday, North Korea’s Kim Jong-un said in a rare statement that the country would consider the "highest level of hard-line countermeasure in history" against the US in response to Trump’s threat to "totally destroy" the North."Recent fiery rhetoric between the North Koreans and President Trump has led to a mild rebound in...
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