Gold Beats U.S. Stocks as North Korea Worries Drive Haven Demand
- Price has advanced 12% this year, touching highest since June
- U.S. allies warn North Korea against firing missiles at Guam
Gold Spikes on North Korea Crisis
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Gold is beating U.S. stocks this year as a war of words between President Donald Trump and North Korea, along with a weaker dollar, boosts demand for haven assets.
Bullion has climbed 12 percent in 2017, overtaking the S&P 500 index of leading U.S. stocks as Japan and South Korea warned the North Korean dictatorship it faces a strong response if it follows through on threats to launch a missile toward the U.S. territory of Guam. Gold for immediate delivery rose 0.6 percent to $1,285.29 an ounce by 2:56 p.m. in New York after touching $1,287.92, the highest since June 8.