Day: September 13, 2017

Gold down as N. Korea tensions subside, Irma impact less than expected

(FinancialPress)—Tension over the North Korean nuclear race, and Hurricane Irma‘s forecasted impact had people turning to gold as a safe haven for the potential drop in stocks. However, the wave has eased and the precious metal dropped to its lowest in over a week this Tuesday morning. Markets across the world reached record heights as concerns waned, and investors returned to higher risk assets over the safer gold, bonds and Japanese yen. After a big 1.4% drop on Monday (the biggest 1-day drop in 2 months), spot gold opened Tuesday with a 0.2% drop %1,324.17 – its lowest value since Sept. 1st. Natixis analyst Bernard Dahdah expanded on the issue: “The North Korea story has had (an impact) on the price of gold, but these geopolitical events tend to be quite limited in time… The marke...