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Gold Rises to Highest in Almost a Year After North Korean Nuclear Test

September 4, 2017 at 15:59 by Vladimir Vyun

North Korea performed its sixth nuclear test on Sunday, leading to a rally of safe assets, including gold, which touched the highest level since late September. The rogue nation claimed that it successfully tested an advanced hydrogen bomb, and the 6.3 magnitude tremor registered in the region led credibility to the claim. The United States warned of a military response if their allies or the USA themselves are threatened. Moreover, there are signs that North Korea are preparing for more tests, and Jang Kyoung-soo, South Korea’s acting deputy minister of national defense policy, said:

We have continued to see signs of possibly more ballistic missile launches. We also forecast North Korea could fire an intercontinental ballistic missile.

Futures for delivery of bullion in December climbed 0.77% to $1,340.7 per troy ounce as of 15:48 GMT on COMEX today. Silver jumped as much as 0.98% to $17.99 per ounce. Spot price for platinum rose 0.21% to $1,009.66 per ounce. Palladium did not join the parade, falling 0.33% to $979.54 per ounce.

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