Gold prices at year high due to geopolitical tensions

Fuelled by geopolitical tensions after North Korea fired a ballistic missile over Japan, international gold prices surged to almost a year's high closing at $1333.1 per troy ounce on September 04, 2017. Gold prices were last seen at this level in September 2016,  when they touched the strongest level of $1,348 per troy ounce.

Tensions in North Korea rose as the country may launch additional missiles post its largest nuclear test conducted. Hence, investors purchased safe-haven assets like gold, giving an impetus to gold prices.

dollor per troy ounce

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