Gold prices climbed 1% to its highest level in a year after North Korea’s 6th and the most powerful nuclear test drove investors towards safe-haven assets.
North Korea’s sixth and the most powerful nuclear test drove the investors towards safe-haven assets. As a result, the market saw a steep rise in silver and gold prices. North Korea may carry out more missile tests in the near future. More worries spread across the global market as South Korea declared that they are talking with the United States about deploying aircraft carriers and bombers at the Korean peninsula.
After the missile test in last week and the advanced Hydrogen bomb test suitable for long-range missile by North Korea, Silver prices also soared by 1.11% to $17.88 an ounce, it is the highest since last April at $17.90. Experts are predicting that silver will cross $18 soon. Gold has also surged up 0.72 percent at $1,334.10 an ounce highest since last September at $1,339.47. The United States gold futures for the month of December delivery were up at $1,339.20. The target for spot gold was around $1,375 which in the same range after Brexit vote last year.