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Thursday, 08/10/2017 1:12:43 PM

Thursday, August 10, 2017 1:12:43 PM

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Gold prices traded at their highest level in more than two months Thursday, adding to the previous session’s sharpest daily rise since the middle of May, as simmering North Korean tensions underpinned haven investments.

“Traders have finally started to wake up to the risks out there, with North Korea acting as the initial catalyst this week,” Colin Cieszynski, chief market strategist at CMC Markets, told MarketWatch.

“With a big battle over the budget and debt ceiling and other potential flare-ups, gold may break out of the doldrums and become more active in the coming weeks,” he said.

Still, prices for gold remain below $1,300 an ounce “because so far there has been a lot of talk, but little action,” said Cieszynski. “It could take an actual negative event to send gold higher. If $1,300 resistance gives way, it could open the floodgates.”



http://www.marketwatch.com/story/gold-trades-at-2-mo-high-as-north-korea-tension-boosts-haven-investments-over-stocks-2017-08-10
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