Gold settles much higher amid Syria tensions

CHICAGO, April 11 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose sharply on Wednesday after President Donald Trump threatened a potential U.S. missile strike against Syria.

The most active gold contract for June delivery went up 14.10 dollars, or 1.05 percent, to settle at 1360.00 dollars per ounce.

Trump has canceled a trip to South America previously planned on Friday to remain in Washington, overseeing the situation in Syria following an alleged chemical attack that killed dozens of people. The U.S. commander-in-chief later threatened openly to launch a missile attack on Syria and warned against Russia.

The Syrian government has denied any involvement in the alleged chemical attack and invited the Organization for the Prohibition of Chemical Weapons to investigate the incident.

The escalating tensions surrounding Syria has led to safe-haven demand and sent gold prices higher for the fourth consecutive session.

However, gold futures moved lower during the following electronic trading after the U.S. Federal Reserve released the minutes of its March policy meeting, which reinforced the view that more interest-rate hikes are on the way this year.

As for other precious metals, silver for May delivery went up 17.2 cents, or 1.04 percent, to settle at 16.768 dollars per ounce. Platinum for July climbed 1.2 dollars, or 0.13 percent, to close at 934.30 dollars per ounce. Enditem