Investors see shine in gold amid growing tensions between U.S. and North Korea
Major North American indexes fell today and investors flocked to gold amid growing tensions between the U.S. and North Korea.
The Toronto Stock Exchange's S&P/TSX composite index was down 39.02 points to 15,217.33 in a broad-based decline that saw many sectors finish in the red while bullion stocks surged nearly 1.9 per cent.
The December gold contract was ahead $16.70 to $1,279.30 US an ounce.
The precious metal is usually seen as a safe haven to investors at a time of geopolitical uncertainty.
With U.S. President Donald Trump warning North Korea of "fire and fury," some investors have become concerned that the war of words between the two countries could escalate.
In New York, the Dow Jones industrial average fell 36.64 points to 22,048.70, the S&P 500 index inched down 0.90 of a point to 2,474.02 and the Nasdaq composite index lost 18.13 points to 6,352.33.
The Canadian dollar was trading at an average price of 78.71 cents US, down 0.20 of a U.S. cent.
Elsewhere in commodities, the September crude contract was up 39 cents to $49.56 US per barrel, September natural gas advanced six cents at $2.88 US per mmBTU and September copper declined two cents at $2.93 US a pound.