Gold prices flagged off the new week with gains on Monday, October 9, as the perceived safe-haven asset appeared to get a boost from worries over a flare-up in tensions between the U.S. and North Korea.
December gold GCZ7, +0.74% rose $7.60, or 0.6%, to $1,282.50 an ounce. Prices logged a fourth-straight weekly loss last week, falling 0.8%, but finished higher on Friday as investors weighed comments on interest-rates from Federal Reserve officials.
December silver SIZ7, +0.86% , meanwhile, tacked on 14 cents, or roughly 0.8%, to $16.95 an ounce, after climbing 0.7% last week.
Investors were assessing comments sent by U.S. President Donald Trump over the weekend. In posts to Twitter, he suggested that years of trying to hammer out agreements with North Korea over its nuclear buildup have proved futile, and that “only one thing will work” when it comes to the Communist country:
The ICE U.S. Dollar Index DX7, -9.38% , which measures the greenback against a basket of six rivals, was flat at 93.797 on Monday. When the dollar is stronger, gold appears more expensive to buyers using other monetary units. A weaker dollar, therefore, can be a boost to gold.
On the Comex, December copper HGZ7, -0.17% was mostly flat at $3.03 a pound. January platinum PLF8, +0.45% rose $5, or 0.6% to $921.70 an ounce, and December palladium PAZ7, +0.92% gained $8.95, or 1%, to $927.95 an ounce, Reuters reports.
