Los Angeles CA, October 10 (Tangible Investments) — by James O’Dell — Precious metals prices were higher across the board on Tuesday as Gold demand climbs amid geopolitical concerns. Gold is up 0.58 percent to $1,291.10 an ounce after gaining $7.50 on Monday to close at $1,283.60 an ounce.

Silver is up 1.18 percent to $17.15 an ounce after adding $0.14 on Monday to close at $16.95 an ounce. The Gold/Silver ratio fell to 75.83. Platinum is up 1.64 percent to $930.00 an ounce. Palladium is up 0.54 percent to $928.00 an ounce.

Gold hit two-week highs in early trading on Tuesday as the dollar lost steam and Geopolitical concerns continued to mount. The European Union is worried that Catalonia will attempt to break away from Spain.

The President of the Catalan region is scheduled to give a speech Tuesday, and could announce the secession of Catalonia.

In the meantime, President Trump is planning a stop at the North Korea-South Korea demilitarized zone during his trip to Asia next week. Trump is planning to deliver a strong anti-North Korea message during the visit.

Defense Secretary Mattis ordered his Army officers to be prepared, in case negotiations fail between the U.S. and North Korea.

Turkey Arrests US Consulate Employee

Meanwhile, the diplomatic rift with Turkey continues. “The diplomatic standoff between the USA and Turkey [was] also heightened following the arrest of a Turkish citizen employed at the U.S. consulate for alleged involvement in the July 2016 failed coup against the Turkish President Recep Tayyip Erdogan,” said SP Angel.

Commerzbank says Gold demand is picking up in India after a lengthy dry spell. “The stronger Indian Gold demand is probably attributable to the upcoming Diwali holiday that will be celebrated next week – a festival that traditionally sees a lot of Gold given as gifts,” said the bank.

Gold prices in India traded at a premium for the first time last week in almost three months. In China, premiums rose to $14 from $10 just yesterday.

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