Gold Extends Rally to `17 High as North Korea Test Adds to Angst
- Bullion surges to the highest since November as miners advance
- Precious metal stocks to benefit, according to Goldman Sachs
Morse: Half of Gold's Rally Attributed to N. Korea
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Gold rose to the highest this year after North Korea fired a ballistic missile over Japan, boosting haven demand and extending a rally fueled by declines in the dollar. An index of precious-metals mining stocks touched a four-month high.
An index of the greenback touched the lowest since January 2015 before paring losses later on Tuesday. Stocks fluctuated as North Korea’s ballistic missile test rattled markets. Palladium extended gains and platinum rose above $1,000 an ounce for the first time since March.