Gold Surges To $1338 as U.S. Warns of ‘Massive’ Military Response

Jon Geopolitics

– Safe haven gold extends rally to 11-month high after North Korea nuke test and U. S. warns of ‘massive’ response
– Asian and European stocks fall, bonds flat, gold, silver, palladium, Swiss franc rise as Korea tensions flare as North Korea tests ‘hydrogen bomb’
– North Korea prepares for possible ICBM launch says S. Korea
– U. S. warns of ‘massive,’ ‘overwhelming’ military response to North Korea after meeting with Trump
– Trump weighing new economic sanctions that target China
– Gold is consolidating above the $1,300/oz key resistance level and building on 4% gain seen in August
Safe haven gold continued to eke out further gains of 0.73% today and reached its highest level in 11 months at $1,338.65/0z. The latest gains came after North Korea’s latest and most powerful nuclear test again saw investors diversify into safe haven gold and other safe haven assets.
Asian and European shares have fallen and the geo-political risk led to the the usual knee-jerk shift to safe havens pushing the yen, Swiss franc, gold and silver higher.

This post was published at Gold Core on September 4, 2017.