Gold Up 2.3% For Week, Stimulated By Brinksmanship

By | August 11, 2017

Gold prices continued to rally Friday as the U.S. and North Korea excahnged mutual threats.

“Military services are now totally in location, locked and packed, should North Korea act unwisely. Hopefully Kim Jong Un will find another path!” President Donald Trump tweeted.

Dec. gold settled at $1,294/ oz, up $3.90, or 0.3%, for the session, and was up 2.3% for the week, rising to a 2-month peak.

In economic news, main information revealed a modest uptick in consumer costs in the U.S. in the month of July.

The Labor Department stated its consumer rate index inched up by 0.1 percent in July after coming in unchanged in June. Economists had actually anticipated rates to increase by 0.2 percent.

Food prices rose by 0.2 percent in July after can be found in unchanged in June, while energy costs edged down by 0.1 percent after toppling by 1.6 percent in the previous month.

The material has been offered by InstaForex Business – www.instaforex.com

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