Los Angeles CA, September 26 (Tangible Investments) — by James O’Dell — Precious metals prices turned lower on Tuesday with Gold steady as geopolitical tensions escalate. Gold is down 0.79 percent to $1,299.90 an ounce after gaining $6.50 on Monday to close at $1,310.30 an ounce.

Silver is down 1.57 percent to $16.89 an ounce after gaining $0.18 on Monday to close at $17.16 an ounce. The Gold/Silver ratio, the number of Silver ounces needed to buy an ounce of Gold, fell to 76.36. Platinum is down 1.60 percent to $924.00 an ounce. Palladium is down 0.11 percent to $905.00 an ounce.

Gold dips on profit taking in early trading as the dollar gains strength against the euro ahead of Yellen speech. Fed Chief Janet Yellen will speak at the National Association for Business Economics’ annual meeting at 12:45 p.m.ET.

The speech will be on inflation, uncertainty and monetary policy. Investors will be looking for clues on the timing of the next rate hike. In Germany, the euro started its slide on Monday, after Chancellor Angela Merkel won a fourth term over the weekend. Because she lost crucial support during the election, the Chancellor must now form a new coalition government.

“The volatile combination of renewed geopolitical tensions and fluctuating rate-hike expectations [has] made Gold a battleground for bulls and bears, which can be reflected in the erratic price action,” says Lukman Otunuga, research analyst at FXTM.

War Of Words Continues

Meanwhile, the war of words between North Korea and the U.S. continue to escalate an already dire situation. It’s certainly time for cooler heads to prevail. North Korea’s Foreign Minister Ri Yong Ho said Monday that President Trump had “declared a war” on his country.

“The North Koreans assume that the threats will be enough to restrain US action but the US might be thinking the same thing, so you end up in a situation where a provocation from one side is seen by the other as an actual move towards war,” said Stratfor Vice President of Strategic Analysis, Rodger Baker.

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