The precious metal was supported by some more safe-haven demand amid heightened geopolitical tensions and from chart-based buying due to an increasingly bullish technical posture. Silver bulls have also regained footing this week as prices have made a solid rebound from recent selling pressure.
Geopolitical risks are still keeping traders and investors worldwide tentative, and that’s bullish for gold. The U.S. Navy has warships headed for waters off the Korean peninsula. North Korea has vowed to retaliate. President Trump has tweeted: “North Korea is looking for trouble.” Meantime, U.S. and Russian government officials were meeting Wednesday to discuss the Syrian government. The U.S. wants Syrian leader Assad out, while the Russians support him.