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Gold Rallies On Geopolitical Tensions, NK Threatens Guam

Gold futures surged Wednesday, logging their best one-day gain since May, as the U.S. and North Korea exchanged threats.

President Trump said North Korean dictator Kim Jong-un has been "very threatening, beyond a normal state."

"And as I said they will be met with fire, fury and frankly power the likes of which this world has never seen before," Trump added.

In an apparent response to Trump's comments, North Korea threatened to carry out missile strikes on Guam, which is home to a U.S. Naval base.

December gold jumped $16.70, or 1.3%, to settle at $1,279.30/oz.

In economic news, wholesale inventories in the U.S. rose by slightly more than expected in the month of June.

The Commerce Department said wholesale inventories climbed by 0.7 percent in June after rising by an upwardly revised 0.6 percent in May.

by RTT Staff Writer

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