Daily Gold Update

Source:Bill Musgrave, American Gold Exchange

Austin— Extending yesterday's 1.6% surge, gold added another 0.3% to close above $1,278 as ongoing jitters about geopolitics drive investors into safe havens. It was gold's highest close since early November.

Heightened political risks in Europe, the Middle East, and Asia stoked risk-off sentiment for a second session, pushing U.S. and global equities lower and Treasury bonds higher. The Dow and S&P 500 lost around 0.3% each while the Global Dow dropped 0.4%. 10-year Treasury yields fell below 2.3% on flights to safety.

Last week's U.S. missile strike against Syrian airfields and this week's saber-rattling with North Korea have shaken investors already nervous about gridlock in Washington and potentially disruptive elections later this month in France. In a tweet, President Trump said North Korea's threat of a nuclear strike against the U.S. "is looking for trouble" and he will "solve the problem," suggesting possible military action. A naval strike force has been directed to the area.

The other precious metals were mixed, with silver rising 0.3% while platinum slipped 0.1% and palladium fell 0.9%.

At the Comex close: June gold gained $3.90 to $1,278.10; May silver rose 5 cents to $18.30; July platinum dipped $1.30 to $966; and June palladium dropped $6.80 to $796.30 an ounce.