WASHINGTON (dpa-AFX) - Gold futures ended notably higher on Tuesday amid geopolitical tensions and increased demand for the metal during the holiday season.
There are concerns North Korea will test an intercontinental ballistic missile, aiming to seek concessions in stalled nuclear negotiations with the United States.
North Korea had said earlier this month that it would surprise Washington with a Christmas present.
Concerns about global economic slowdown contributed as well to gold's sharp uptick.
On the trade front, the U.S. and China are likely to sign a deal sometime soon. U.S. President Donald Trump tweeted on Saturday that the U.S. and China would 'very shortly' sign phase 1 of a trade agreement.
Chinese Finance Ministry has announced plans to lower import tariffs on a range of products, including frozen pork, pharmaceuticals and some high-tech components.
Gold futures for February ended up $16.10, or about 1.1%, at $1,504.80 an ounce, their highest close in about seven weeks.
On Monday, gold futures for February ended at $1,488.70 an ounce, gaining $7.80, or 0.5%.
Silver futures for March ended up $0.354 at $17.853 an ounce, while Copper futures for March settled at $2.8275 per pound, gaining $0.0190 for the session.
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