Los Angeles CA, September 4 (Tangible Investments) — by James O’Dell — Precious metals prices were mixed on Monday after North Korea tests hydrogen bomb spurring Gold higher. Gold is up 0.72 percent to $1,333.90 an ounce after gaining $3.60 on Friday to end the week at 1,324.40.

Silver is up 0.73 percent to $17.83 an ounce after adding $0.16 on Friday to finish the week at $17.70. The Gold/Silver ratio fell to 74.82. Platinum is trading flat at $1.006.00 an ounce. Palladium is down 0.51 percent to $968.00 an ounce.

Gold hit a one-year high in early trading Monday, as the dollar weakened and tensions rose after North Korea tested another miniature hydrogen-bomb. One of the first signs that N.Korea tested another nuclear-warhead came today after 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. There was a second earthquake as well, they are calling a tunnel collapse, near the same location of what appears to be N.Korea’s sixth nuclear test.

Gold rose 2.50 percent last week and it’s up more than 12 percent for the year with much of that gain due to local and global geopolitics.

“We’ve got the geopolitics and we’ve also got a fairly benign interest rate environment. There’s still nothing threatening coming out of the Fed recently,” said Tom Kendall, of ICBC Standard Bank.

Gold Boosted By Disappointing Jobs Report

Gold received a boost on Friday when the jobs report showed employers added fewer jobs than economists were expecting in August. The Bureau of Labor Statistics reported that just 156k jobs were created last month, far short of the 180k jobs that economists were expecting. The weak jobs numbers cast doubt on any further rate hikes this year.

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