Gold on track for fourth weekly profit in five
2017-08-11 15:00:27 GMT (
Gold on track for fourth weekly profit in five

Gold futures tilted higher in American trade to the highest since June 6 as the dollar index gave up ground, following earlier data from the US, the world's largest economy, and amid growing concerns in the markets regarding the escalating US-North Korea tensions. 


As of 03:37 GMT, gold futures due on December 16 rose 0.18% to $1,292.40 an ounce from the opening of $1,290.10, while the dollar index shed 0.21% to 93.20 from the opening of 93.40. 


Earlier US data showed consumer prices rose 0.1% in July, up from no-change in June, and missing expectations of 0.2%, while core prices steadied at 0.1%, also below expectations of 0.2%, and on a yearly basis, prices accelerated to 1.7%, missing forecasts of 1.8%, while core prices steadied at 1.7% in line with expectations last month. 


On Tuesday, president Donald Trump warned nuclear nations that might threaten the US with a response filled with "fire and fury", after North Korea said it's considering a missile strike on US Pacific island Guam, but Secretary of State Rex Tillerson that there's no imminent threat on the country relatively calmed the markets.


On the same note, South Korea's army warned Pyongyang from a strong response if the later launched a military strike on Guam, while noting the recent militaristic rhetoric between the US and North Korea buoyed silver as a safe haven.  

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