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Gold Up 2.3% For Week, Spurred By Brinksmanship

Fri, 11th Aug 2017 19:02


WASHINGTON (Alliance News) - Gold prices continued to rally Friday as the US and North Korea excahnged mutual threats.

"Military solutions are now fully in place, locked and loaded, should North Korea act unwisely. Hopefully Kim Jong Un will find another path!" President Donald Trump tweeted.

Dec. gold settled at USD1,294/oz, up USD3.90, or 0.3%, for the session, and was up 2.3% for the week, rising to a 2-month peak.

In economic news, official data showed a modest uptick in consumer prices in the US in the month of July.

The Labor Department said its consumer price index inched up by 0.1% in July after coming in unchanged in June. Economists had expected prices to rise by 0.2%.

Food prices rose by 0.2% in July after coming in unchanged in June, while energy prices edged down by 0.1% after tumbling by 1.6% in the previous month.

Copyright RTT News/dpa-AFX

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