Gold prices are rising for a second day after North Korea successfully launched an intercontinental ballistic missile capable of striking the US.
US Secretary of State Rex Tillerson called yesterday’s missile test a “new escalation” from a “global threat”. The United Nations Security Council has also convened a closed-door meeting.
Gold, considered a safe haven investment, gained 0.3% to $1,227.71 per ounce in the spot market.
However Asian stock markets mostly rose following a choppy trading session.
Japan’s benchmark Nikkei 225 reversed earlier losses to close up 0.2% at 20,076.55 while the Topix index gained 0.5% to 1,618.12.
South Korea’s Kospi rose 0.4% to end at 2,390.08 points.
Both Hong Kong’s Hang Seng and the Shanghai Composite are 0.5% higher in the afternoon session.
