Gold is climbing to its highest level in a year

Gold prices rose 1 percent to their highest level in nearly a year on Monday after North Korea conducted the latest and most powerful nuclear test, prompting investors to turn to safe haven assets.

By 0708 GMT, spot gold rose just over 1 percent to $ 1,338.36 an ounce after touching its highest level since late September at $ 1339.47 an ounce.

Gold in US futures contracts for December delivery rose 1 percent to $ 1,344 an ounce.

North Korea on Sunday carried out its sixth nuclear test for what it called an advanced hydrogen bomb, raising the prospect of a “comprehensive” military response from the United States if it or one of its allies is threatened.

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