North Korea’s missile launch on Tuesday has lifted safe-haven demand, allowing gold price to sustainably stay above the psychological level of US$1300/oz. The benchmark Comex contract for the yellow metal rose to nearly a one-year high of 1323.8 before settling at 1313.1, up +0.26%. The corresponding silver contract initially climbed higher to 17.43 before retreating to 17.42, down -0.052%, at close. This was a mild pullback after a +2.31% rise on the prior day. The oil market continued to react in the aftermath of Hurricane Harvey.
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Geopolitical Tensions Offset by Strong Data
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