- Gold was up 1% Thursday morning.
- That’s after President Donald Trump canceled a planned summit with North Korea.
- Follow gold prices in real time here.
Gold rallied Thursday morning after President Donald Trump canceled a meeting between the US and North Korea.
Gold was up 1% to $1306.18 an ounce around 10 a.m. ET.
On Thursday, the White House called off a planned summit between President Donald Trump and North Korean leader Kim Jong Un.
“Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time , to have this long planned meeting,” Trump wrote in a statement.
The cancellation, which dampens the emerging prospect of diffused high-stakes tensions between Washington and Pyongyang, sent investors running for save-haven assets.
Additionally propping up the yellow metal, the Federal Reserve released Wednesday meeting minutes from its last policy gathering, showing officials are okay with inflation temporarily overshooting a target level of 2%. That sent the dollar lower.
Gold is up less than 1% this year.
