Gold prices have been skyrocketing over the past 24 hours, as the dollar crashes across the board at the same time.
The prices of gold have moved through the 1340 region and now trade comfortably above the 1350 region as of this writing and it looks as though the prices would continue to stay strong going into the weekend, data from the federal ministry of mines and steel development show.
There have been reports of North Korea planning to launch a missile on their National Day, which falls on Saturday, and it is unlikely that the investor and the trader would be too willing to carry such a risk into the weekend.
The reports further reveal that investors might be looking to sell off their holdings in stocks and other risky assets and looking to push them into the safe havens like gold and silver ahead of such a risk.
“This is one of the main reasons why we are seeing the gold prices continue to move higher since yesterday.”
