Gold surges

Bengaluru

Gold prices rose for a third straight session on Tuesday to their highest since November as mounting geopolitical tensions over a new North Korean missile launch stoked demand for safe-haven assets and weighed heavily on the dollar and equities.

Spot gold was up 0.6 percent at $1,317.47 per ounce, as of 0627 GMT, after earlier hitting $1,322.33, its highest since Nov. 9. Gold gained 1.4 percent in the previous session in its biggest one-day percentage rise since mid-May.

U.S. gold futures for December delivery rose 0.6 percent to $1,323.00 per ounce. South Korea and Japan said the missile North Korea launched early on Tuesday landed in Pacific waters east of Hokkaido after flying over the northern Japanese island, in a sharp escalation of tensions on the Korean peninsula.