Daily Gold Update

Source:Bill Musgrave, American Gold Exchange

Austin— Extending last week's 2.5% rise, gold added another 0.3% to close above $1,292, a fresh five-month high, as rising geopolitical tensions spurred demand for safe-haven assets. It was the metal's fourth straight winning session.

Vice President Mike Pence warned North Korea not to test Donald Trump, citing recent military strikes against Syria and Afghanistan, while White House national security adviser Lt. Gen. H.R. McMaster told ABC News that the rogue nation's provocations "can't continue."

The saber-rattling shook financial markets, ">pushing the dollar 0.4% lower against major rivals as investors sought out safe-haven currencies like the yen and Swiss franc. A weaker dollar supports gold and other commodities by making them less expensive overseas.

U.S. Treasurys rallied alongside gold on flights to safety, pushing yields on 10-year notes to the lowest level since early November.

The other precious metals were mostly higher, with silver and platinum gaining 0.2% and 1.4%, respectively, while palladium dropped 0.7%.

At the Comex close: June gold gained $3.90 to $1,292.40; May silver picked up 3 cents, to $18.54; July platinum jumped $13.70 to $991.10; and June palladium fell $5.60 to $790.30 an ounce.