Gold Logs Best Daily Gain In 3 Months On Heightened Geopolitical Tensions

By Mark DeCambre Markets MarketWatch Pulse

Gold futures surged on Wednesday, to settle with their sharpest daily rise since mid May amid rising military tensions between the U.S. and North Korea. Gold for December delivery jumped $16.70, or 1.3%, to $1,279.30 an ounce, marking the biggest single-session advance since May 17 when the metal added $22.30 or 1.8%, according to FactSet data. North Korea's recent threat to launch a missile strike at U.S. territory Guam helped to elevate haven buying in global financial markets. Pyongyang's statements follow U.S. President Donald Trump's late-Tuesday afternoon vow to respond to the Hermit nation with "fire and fury like the world has never seen" if it doesn't cease its threatening posture, which includes a series of recent ballistic-missile tests.

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