Geopolitical Tensions Help Precious Metals

Precious metals have had a good second half of this week as recent concerns over U.S.-North Korea relations have been heightened. Gold is currently holding at multi-week highs of $1,285 per ounce.

Other precious metals have also fared well this week, with silver up to $17.05 per ounce today. Base metals, however, are feeling pressure from the recent geopolitical climate. Nickel is down more than 2 percent today, a staggering loss. Other base metals have lost around 0.7 percent, with lead falling by 1 percent and copper slipping 0.4 percent to $6,348 per ton.

In other markets, the dollar index is holding above its August 3rd low of 92.84, posting at 93.42 today. Crude oil on the Nymex is down 0.7 percent. Equities are also struggling today, with the CSI 300 down 1.3 percent and the Hang Seng falling by 1.6 percent. Japanese markets are closed on national holiday.