Gold near one -year high buoyed by Korea tensions.

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Gold held near one-year highs on Wednesday, boosted by tensions on the Korean peninsula.
Rising geopolitical tensions, the hurricane hitting the U.S. and the looming debt ceiling are increasing demand for safe assets. These extraordinary factors are also weakening the dollar.
Investor unease was reinforced after a North Korean diplomat warned his country is ready to send “more gift packages” to the United States as world powers struggled for a response to Pyongyang’s latest nuclear weapons test.Gold is likely to move higher over the course of September, sustained by a weaker dollar and North Korean tensions.

 

 

Source: Business Newspapers