Gold prices edged up on Tuesday, hovering around their highest levels in nearly a year, as North Korea's most powerful nuclear test to date underpinned haven demand for the precious metal. Spot gold was up 0.1 percent at $1,335.36 per ounce as of 0700 GMT after touching its strongest since late September in the previous session.
US gold futures for December delivery were up 0.8 percent at $1,340.80. "Safe-haven buying's been fairly strong over the past few days but there's still a level of uncertainty about what the North Korean crisis will mean for markets," ANZ analyst Daniel Hynes said.
"Gold prices continued to point north this morning, suggesting that risk appetite remains underwater," OCBC analyst Barnabas Gan said. "Concerns over geopolitical tensions will likely dominate sentiments for the week ahead." Spot gold still targets $1,345 per ounce, as it has cleared a resistance at $1,333, Reuters technical analyst Wang Tao said.
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