SPDR Gold holdings highest in 10 months
* Palladium set for biggest weekly rise since January 2017
* GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl (Updates throughout, changes dateline from BENGALURU)
By Zandi Shabalala
LONDON, April 13 (Reuters) - Gold prices rose on Friday and were headed for their second weekly gain as investors sought safety from security tensions over Syria.
U.S. President Donald Trump and his national security aides on Thursday discussed options on Syria, where he has threatened missile strikes in response to a suspected poison gas attack, as a Russian envoy voiced fears of wider conflict between Washington and Moscow. however, cast doubt over the timing of his threatened strike on Syria on Thursday, by tweeting that an attack on Syria "could be very soon or not so soon at all". Trump back-pedalled a bit in his morning tweet yesterday but the danger is still there that situation could escalate with Russia due to a military attack on Syria," said Quantitative Commodity Research consultant Peter Fertig.
"We are back at a Cold War which easily could turn into a hot war if someone loses their nerve and in such a situation gold is a haven."
Gold is often used as store of value in times of political and financial uncertainty.
Spot gold XAU= was up 0.4 percent at $1,340.79 an ounce as of 0930 GMT, and was set for a weekly gain of around half a percent. U.S. gold futures GCcv1 were steady at $1,343.70 an ounce.
* Palladium set for biggest weekly rise since January 2017
* GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl (Updates throughout, changes dateline from BENGALURU)
By Zandi Shabalala
LONDON, April 13 (Reuters) - Gold prices rose on Friday and were headed for their second weekly gain as investors sought safety from security tensions over Syria.
U.S. President Donald Trump and his national security aides on Thursday discussed options on Syria, where he has threatened missile strikes in response to a suspected poison gas attack, as a Russian envoy voiced fears of wider conflict between Washington and Moscow. however, cast doubt over the timing of his threatened strike on Syria on Thursday, by tweeting that an attack on Syria "could be very soon or not so soon at all". Trump back-pedalled a bit in his morning tweet yesterday but the danger is still there that situation could escalate with Russia due to a military attack on Syria," said Quantitative Commodity Research consultant Peter Fertig.
"We are back at a Cold War which easily could turn into a hot war if someone loses their nerve and in such a situation gold is a haven."
Gold is often used as store of value in times of political and financial uncertainty.
Spot gold XAU= was up 0.4 percent at $1,340.79 an ounce as of 0930 GMT, and was set for a weekly gain of around half a percent. U.S. gold futures GCcv1 were steady at $1,343.70 an ounce.
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