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Gold prices tad up amid geopolitical tensions

Gold gained from a four-week low on Friday as geopolitical tensions between the United States and North Korea remained in focus.

Spot gold was up 0.2% at USD 1,293.70 an ounce at 0042 GMT, after marking its lowest since August, 25 at USD 1,287.61 in the previous session.

US gold futures for December delivery were up 0.1% at USD 1,296.60 an ounce. The dollar on Friday eased versus the yen and against a basket of six major currencies.

US President Donald Trump ordered new sanctions against North Korea on Thursday and Pyongyang’s leader defiantly vowed to persist with its nuclear and missile programmes and said it would consider measures against the United States.

North Korea’s leader Kim Jong Un said in a rare statement on Friday the North will consider the “highest level of hard-line countermeasure in history” against the United States in response to US President Donald Trump’s threat to “totally destroy” the North.

Holdings of SPDR Gold Trust rose 0.73% to 852.24 tonnes on Thursday from 846.03 tonnes on Wednesday