Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold gained 0.8%, erasing all last week's losses to close at $1,285 as renewed tension with North Korea spurred safe-haven demand.

In a series of comments and tweets over the past few days, President Trump has raised additional concerns about a possible military intervention to stop North Korea's nuclear weapons program. On Friday, he alluded to "the calm before the storm" when asked about the conflict, refusing to clarify his meaning. Over the weekend, the President cryptically tweeted that diplomacy is "making fools of U.S. negotiators" and that "only one thing will work!"

Given the President's threat in August to rain "fire and fury" on the rogue nation, the suggestion of warlike intentions was hard to miss.

The dollar pulled back against major rivals, supporting gold and other commodities priced in it for global trade by making them less expensive overseas. And US and global stocks also receded slightly as investors checked their risk appetite.

The other precious metals also finished higher, with silver rising 1.1% while platinum and palladium added 0.2% and 1%, respectively.

At the Comex close: December gold gained $10.10 to $1,285; December silver picked up 18 cents $16.97; January platinum edged up $1.50 to $918.20; and December palladium climbed $9 to $928 an ounce.