Los Angeles CA, August 22 (Tangible Investments) — by James O’Dell — Precious metals prices were mixed in early trading on Tuesday as Gold remains steady amid growing tensions on Korean Peninsula. Gold is down 0.20 percent to $1,288.70 an ounce after gaining $7.10 on Monday to close at $1,291.30 an ounce.

Silver is up 0.50 percent to $17.08 an ounce after easing $0.01 on Monday to close at $17.00. The Gold/Silver ratio rose to 75.96. Platinum is down 0.65 percent to $977.00 an ounce. Palladium is down  0.65 percent to $924.00 an ounce.

Gold dipped in early trading Tuesday as the dollar strengthened ahead of the annual economic policy symposium in Jackson Hole this week. Global investors will be watching developments at Jackson Hole for clues to changes in future monetary policy. Fed Chair Janet Yellen and European Central Bank (ECB) President Mario Draghi will both speak on Friday.

“The yellow [metal] continues to receive support on the back of ongoing geopolitical concerns, while recent gains to base metals and uncertainty surrounding the upcoming Jackson Hole conference underpins the bid tone,” says Sam Laughlin, senior trader with MKS.

Military Exercises Continue In Korea

Meanwhile, tensions are running high between the United States and North Korea as military exercises with South Korea continue Tuesday. The computer-simulated war games are held annually and usually  draw retaliatory threats from North Korea.

“The North Korean leadership is calling these exercises provocative and implying the possibility of this leading to a nuclear exchange,” said TD Securities.

Pyongyang claims the maneuvers are a rehearsal for an invasion. “No one can vouch that these huge forces concentrated in South Korea will not go over to an actual war action now that the military tensions have reached an extreme pitch in the Korean Peninsula,” said North Korea’s military statement.

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