Los Angeles CA, August 11 (Tangible Investments) — by James O’Dell — Precious metals prices were mixed in early trading on Friday with Gold underpinned by North Korean threats. Gold is up 0.02 percent to $1,286.00 an ounce after climbing $8.90 on Thursday to close at $1,285.80 an ounce.

Silver is down 0.47 percent to $17.02 an ounce after gaining $0.17 on Thursday to close at $17.10 an ounce. The Gold/Silver ratio fell to 75.19. Platinum is up 0.71 percent to $987.00 an ounce. Palladium is up 0.11 percent to $889.00 an ounce.

Gold hit 2-month highs in early trading Friday as the war of words continues between North Korea and the U.S. Investors globally are pouring into Gold as a safe-haven against possible consequences from the escalation in rhetoric between world leaders.

“There is a continuation of flight to the safe havens after remarks on Thursday evening from Trump about North Korea,” said Quantitative Commodity Research consultant Peter Fertig. “It’s not very likely that these tensions will ease in the near future so the outlook seems supportive for Gold.”

The yellow metal got an extra boost after a weaker-than-expected Consumer Price Index (CPI) in July. Benign inflation could limit the Fed’s ability to raise interest rates for a third time this year.

“If you look at the Gold price after the CPI (inflation) data, it tells you that the Fed is not going to be in any rush to increase the interest rate this year,” said Naeem Aslam, of Think Markets.

Gold About To Break Higher

Meanwhile, noted commodities expert Dennis Gartman told CNBC that “Gold is about to break out on the upside strongly.” Gartman, publisher of the popular Gartman Letter believes investors should allocate around 10-15 percent of their portfolios to Gold.

“One never knows when geopolitical risks will arise. One never knows when something untoward will happen economically,” said Gartman. “The stock market looks a little vulnerable. The geopolitical circumstances are getting worse and worse.” he added.

It’s important to protect your hard earned wealth during these times of economic and geopolitical uncertainty. At Tangible Investments, it doesn’t matter whether you’re new to precious metals or a seasoned veteran, you will always be dealing with top industry experts.

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