Gold price soars to 5-month high amid geopolitical unrestApril 13, 2017 - 18:06 AMT PanARMENIAN.Net - Rising global tension around Syria and North Korea have pushed gold prices to their highest level since November as investors shift to safe haven assets, RT reveals. Bullion rose 0.2 percent on Wednesday, April 12 to $1,274 per troy ounce as of 9:40am GMT after earlier reaching its highest level since November 10 last year of $1,279.85. "Gold has finally broken and closed above its 200-day moving average at $1,257.50, which now becomes a support. From a technical perspective, the way is now clear for a run at $1,300 and possibly higher," said Jeffrey Halley, senior market analyst at OANDA. “A serious escalation could see gold to the $1,380 to $1,400 area tout suite, but it would have to be really serious,” Halley told Bloomberg. Heightened tensions on the Korean peninsula and in the Middle East following US strikes on Syria have left investors nervous. “When you put that mix together: Syria, Trump, North Korea, it’s a volatile thing,” said Jonathan Barratt, chief investment officer at Ayers Alliance Securities in Sydney. “It’s that uncertainty that people are concerned about.” On Tuesday, North Korean state media warned of a nuclear attack on the United States if provoked. US President Trump said in a tweet that North Korea was "looking for trouble" and the United States would "solve the problem" with or without China's help. The US has moved a naval battle group closer to North Korea over concerns it may conduct a nuclear or missile test. Investors are also closely looking at US-Russia relations as US Secretary of State Rex Tillerson visits Moscow on Wednesday. The upcoming French presidential election is also adding to worries about volatile global politics, according to analysts, adding a risk-off mood may continue to translate into gold gains. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. |