• Gold posted a breakout session Tuesday as investors took risk positions off the table as geopolitical tensions rose.
• Futures on the precious metal jumped 1.6 percent during the regular session, bringing their year-to-date gain to above 10 percent. The metal kept going higher in after-hours trading with the futures reaching an intraday high of 1,277.40, which was their highest level since Nov. 10.
• The price of bullion soared to a five-month high Tuesday as investors flocked to the safe haven amid rising global tensions, particularly between the U.S. and North Korea.
• The June gold contract rose $20.30 at US$1,274.20 an ounce, hitting a level not seen since Nov. 8, when Donald Trump was elected U.S. president.
• North Korea said there could be "catastrophic consequences" after the U.S. ordered the USS Carl Vinson aircraft carrier and its battle group to waters off the Korean Peninsula. Tensions have been high after North Korea recently launched ballistic missiles.
• On Tuesday, Trump tweeted that "North Korea is looking for trouble" and that he had recently asked China to help them solve the "North Korean problem."
• Investors often buy more gold in volatile times, believing the precious metal is better at retaining its value compared to the stock market.
• Technically, June gold futures prices closed nearer the session high today. The gold bulls have the overall near-term technical advantage and gained fresh power today. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,300.00. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at $1,241.50. First resistance is seen at today’s high of $1,275.90 and then at $1,280.00. First support is seen at $1,268.10 and then at 1,260.00. Wyckoff's Market Rating: 6.5
• May Comex silver was last up $0.32 at $18.235 an ounce.
Reference: CNBC, The Record, Kitco
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