COMEX gold jumps to $30.5 on news of China’s military exercises around Taiwan

COMEX gold surged $30.5 to close at the highest level in more than a month on concerns about China’s military exercises around Taiwan. After a missile was fired into Japanese waters.

Foreign news reports revealed that yesterday (4 Aug 65) the Commodity Exchange (COMEX) gold contract was delivered in December. It was up $30.5, or 1.72%, to close at $1,806.9/ounce. This is the highest closing level since June 30, 65 or in more than a month.

This was driven by the depreciation of the dollar. And investors buy gold as a safe haven asset. Amid concerns about Chinese military exercises around Taiwan in which a missile was fired into Japanese waters

The Japanese Ministry of Defense said that The Chinese military fired nine missiles yesterday, and five of them landed in the Japan Exclusive Economic Zone (EEZ), marking the first time China has fired a missile in that area. which is in the southwest of Hateruma Island The launch of Chinese missiles prompted the Japanese government to conduct diplomatic protests against the Chinese government. and urged China to immediately cease military exercises near Taiwan.