SINGAPORE: Gold advanced to the highest in two months as the spike in tensions between the United States and North Korea fanned demand, with hedge fund billionaire Ray Dalio flagging rising risks, including “two confrontational, nationalistic, and militaristic leaders playing chicken with each other.”
Bullion for immediate delivery rose as much as 0.2% to US$1,289.07 an ounce, the highest level since June 7, and traded at US$1,287.71 in London, according to Bloomberg generic pricing. The metal is up 2.3% this week, and 12% in 2017. Miners’ shares rose.
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