Gold slips on stronger dollar; geopolitical risks support

Reuters/Arpan Varghese/08-30-17

Gold slipped on Wednesday, pressured by gains in the dollar amid perception of a brief lull in tensions over North Korea, but prices of the yellow metal remained supported as safe-haven demand was buoyed by expectations that geopolitical risks could persist.

“The dollar strength is taking some shine off the yellow metal,” said Naeem Aslam, chief market analyst, Think Markets.

…North Korea said on Wednesday it had conducted a test of an intermediate-range ballistic missile (IRBM) to counter U.S. and South Korean military drills.

The United States will not allow North Korea’s lawlessness to continue and it is time for Pyongyang to recognise the “danger they are putting themselves in” as the world is united against them, U.S. Ambassador to the United Nations Nikki Haley said on Tuesday.

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