• Gold climbed to a 5-month high on Wednesday after gaining nearly 2 percent the session before, with investors shifting to safe-haven assets on rising tensions over U.S. relations with Russia and North Korea.
Spot gold had edged up 0.1 percent to $1,274.91 per ounce by 0311 GMT, after earlier hitting its strongest since Nov. 10 at 1,279.80.
• "Recently a degree of uncertainty has found its way into previously seemingly bulletproof financial markets," ANZ analysts wrote in a note.
"There is clearly some nervousness out there, with geopolitical tensions around North Korea ratcheting higher and adding to an already heightened geopolitical environment."
• Gold on Tuesday closed above the 200-day moving average for the first time this year after struggling to do so over the past few weeks.
• "Gold has finally broken and closed above its 200-day moving average at $1,257.50, which now becomes a support. From a technical perspective, the way is now clear for a run at $1,300 and possibly higher," said Jeffrey Halley, senior market analyst at OANDA.
"The safe-haven effect is clearly in play once again ahead of the Easter holiday with volumes in both spot and options well above average."
• Among other precious metals, spot silver was firm at $18.30 an ounce.
Reference: Reuters
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