Los Angeles CA, August 10 (Tangible Investments) — by James O’Dell — Precious metals prices were moderately higher in early trading on Thursday as safe haven Gold demand climbs amid North Korean concerns. Gold is up 0.42 percent to $1,282.20 an ounce after soaring $16.20 on Wednesday to close at $1,276.90 an ounce.

Silver is up 1.39 percent to $17.16 an ounce after rallying $0.50 on Wednesday to close at $16.93 an ounce. The Gold/Silver ratio fell to 75.42 as Silver outperformed Gold. Platinum is up 0.62 percent to $980.00 an ounce. Palladium is up 0.91 percent to $892.00 an ounce.

Gold hit a two-month high in early trading Thursday as the rhetoric between North Korea and the U.S. heats up. Safe-haven demand for Gold is rising due to the increase in geopolitical turmoil.

“It is difficult to walk back the saber-rattling rhetoric,” says Brown Brothers Harriman. “The net impact is to lift the U.S. dollar, yen, and Gold.”

North Korea has a long history of making threats against the U.S., but recent advances in warfare make them real concerns. The nation has produced a miniaturized nuclear warhead that can be loaded onto an ICBM missile. North Korea’s latest threat is a missile attack on the U.S. territory of Guam.

“For now, the uptrend is very much intact in Gold, reacting to external geopolitical events,” said Jonathan Butler of Mitsubishi.

Inflation Fell In July

Meanwhile, the Labor Department said on Thursday that the Producer Price Index (PPI) fell 0.1 percent in July. Consensus expectations had been for a rise of 0.1 percent. Should inflation remain subdued, the Fed may refrain from further rate hikes this year which would be bullish for Gold.

“An increase in expected rate hikes is unlikely without inflation pressure, while greater volatility could be a prime driver of a decline — both strong Gold companions,” said Mike McGlone, commodities strategist for Bloomberg Intelligence.

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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