Los Angeles CA, September 5 (Tangible Investments) — by James O’Dell — Precious metals prices were mixed on Tuesday while Gold supported as tensions rise between US and North Korea. Gold is up 0.31 percent to $1,337.90 an ounce after gaining $9.40 on Monday to close at 1,333.80.

Silver is up 0.03 percent to $17.88 an ounce after adding $0.17 on Monday to close at $17.87. The Gold/Silver ratio fell to 74.64. Platinum is down 0.10 percent to $1,004.00 an ounce. Palladium is down 0.93 percent to $958.00 an ounce.

Gold rose in early trading Tuesday hitting another 11-month high after North Korea was reportedly spotted relocating an ICBM missile.

“Following the flight to safety on Monday after North Korea’s hydrogen bomb test, bullion continued to see strength during Asian trade on Tuesday as the risk-off theme continued,” says Sam Laughlin, senior trader for precious metals with MKS.

Increasing tensions between the U.S. and N. Korea have fueled a widening demand for safe-haven Gold. South Korea’s Asia Business Daily reported that N. Korea was apparently moving an intercontinental ballistic missile towards its West coast. N. Korea performed its sixth nuclear weapons test on Sunday.

The U.S. became aware that N. Korea had tested another nuclear-warhead when the U.S. Geological Survey recorded an M6.3-earthquake. The earthquake occurred in an area that N. Korea has used previously for nuclear testing.

North Korea May Launch Another ICBM

The latest seismological data indicate that the detonation was the most powerful yet according to nuclear experts. “There is some thought that North Korea may launch its ICBM as early as Sept. 9, National Foundation Day,” says BBH.

“Gold shot up quite a bit in the past few days so if you bought it then you’ve made a nice profit and you could take some off the table,” said Robin Bhar, of Societe Generale.

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