Gold Price Hits Highest Levels In Two Months

Analysts said yields, which move inversely to prices, could fall further if the geopolitical tensions continue to rise - even if central bankers in the United States continue to talk of raising interest rates or scaling back stimulus programmes.

After a dip of as much as 0.52 percent earlier in the day, investors appeared to take some comfort in Tillerson's comments, said Richard Steinberg, managing director at HighTower Advisors in NY.

The CBOE Volatility Index .VIX , a barometer of expected near-term stock market volatility, closed at its highest since the election.

Traditional safe-haven currencies including the Swiss franc and Japanese yen rose against the US dollar.

President Donald Trump said Friday that the USA military was "locked and loaded", while Pyongyang accused him of driving the Korean peninsula to the brink of nuclear war.

In other precious metal trade, silver futures rose 1.01% to $17.034 while platinum futures rose by 0.36% to $990.15.

But in the US, Wall Street stocks rose as investors waded back into the market following a three-day sell-off, with high-flying technology companies like Apple and Microsoft doing especially well.

South Korea's benchmark Kospi index fell 1.69%.

USA stocks were on track for their biggest weekly loss in months, shaken by disappointing earnings results and an escalation of threats between the US and North Korea.

Many Guam Residents Aren't Worried About North Korea
In response, President Donald Trump turned up the heat on North Korea as tensions between the two nations grew this week. Leader Kim Jong Un would then decide whether to proceed with the strike on the US territory.

In 3.23pm trading in NY, the Dow Jones Industrial Average gave up 0.7 percent, while the Nasdaq Composite Index dropped 1.8 percent.

The strength on Wall Street is partly due to bargain hunting, with traders picking up stocks at reduced levels following the pullback seen over the past few sessions.

Most large-cap stocks were mixed across the board.

Markets in Italy, France and Germany also saw declines.

On Friday, the president appeared to double down on his earlier threat to release "fire and fury" on North Korea, warning on his Twitter account that military solutions are in place and "locked and loaded". It was trading at 109.16 yen, after retreating 0.8 percent on Thursday.

Gold prices held steady after touching their highest in over two months on Friday and were on track for a weekly gain, buoyed as rising tensions between the United States and North Korea triggered safe-haven buying.

On the currency markets, the pound was up 0.03% against the dollar at $1.2981 but down 0.23% against the euro at 1.0999 euros.

Shares of Macy's tumbled 9.5 percent and Kohl's 6.7 percent after the department store operators reported a drop in quarterly same-store sales that stoked concerns that their turnaround may still be a long way off.

SeaWorld Entertainment shares lost more than 6 percent.

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