Gold, on Thursday, August 10, lingered near a two-month high hit earlier, as rising tensions on the Korean peninsula continued to support safe-haven demand.
North Korea dismissed on Thursday warnings by U.S. President Donald Trump that it would face “fire and fury” if it threatened the United States as a “load of nonsense”, and outlined detailed plans for a missile strike near the Pacific territory of Guam.
Geopolitical risk can boost demand for assets seen as safe-havens such as gold.
Spot gold crept up 0.1 percent to $1,278.51 per ounce at 0656 GMT. The precious metal climbed 1.3 percent in the previous session, its biggest gain since mid-May, and touched
$1,279.64 an ounce, it highest level since June 9.
U.S. gold futures for December delivery rose 0.4 percent to $1,284.40 per ounce.
Asian stocks steadied and U.S. Treasury bond prices fell slightly on Thursday as the risk aversion triggered by tensions between the United States and North Korea began to
settle.
In other precious metals, silver rose 0.8 percent to $17.04 per ounce after hitting its highest since June 15 earlier in the session.
Platinum fell 0.3 percent to $968.20 per ounce. In the previous session, it marked its highest since April 21 at $980.60.
Palladium prices rose 0.1 percent to $891.75 per ounce.
