Gold futures surged on Wednesday, to settle with their sharpest daily rise since mid May amid rising military tensions between the U.S. and North Korea. Gold for December delivery jumped $16.70, or 1.3%, to $1,279.30 an ounce, marking the biggest single-session advance since May 17 when the metal added $22.30 or 1.8%, according to FactSet data. North Korea’s recent threat to launch a missile strike at U.S. territory Guam helped to elevate haven buying in global financial markets. Pyongyang’s statements follow U.S. President Donald Trump’s late-Tuesday afternoon vow to respond to the Hermit nation with “fire and fury like the world has never seen” if it doesn’t cease its threatening posture, which includes a series of recent ballistic-missile tests.
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