Gold soars in Asia on geopolitical tensions

Gold soars in Asia on geopolitical tensions

On Wednesday, gold rallied in Asia because a fresh Twitter taunt by Donald Trump to North Korean leader Kim Jong-un definitely rekindles the stakes on a nuclear weapons stance.

February delivery gold futures rallied 0.26% being worth $1,319.50 a troy ounce.

In his tweet Donald Trump informed that his nuclear button appears to be much bigger and also much more powerful than Kim Jong-un’s one.  

Overnight, the number one precious metal edged up amid everlasting dollar weakness. Meanwhile, soaring geopolitical uncertainties underpinned market sentiment, including ongoing protests in Iran.

Gold tacked on to three-month maximums and also remained on track to demonstrate their longest winning marathon since 1971, the end of the gold standard, underpinned mostly by a greenback dive to three-month minimums.

The soar in gold emerged as data demonstrated that market participants kept increasing their bullish bets on gold.

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