· Gold prices rose on Monday, reversing earlier losses as geopolitical risks drove safe-haven buying.
· Spot gold was up 0.85 percent at $1,308.06 an ounce by 2:48 p.m. EDT (1848 GMT). It fell earlier as the German election results hit the euro.
U.S. gold futures for December delivery settled up $14, or 1.08 percent, at $1,311.50 per ounce.
· Bullion rose 1 percent on rising tensions between North Korea and the United States, and on German Chancellor Angela Merkel's less-than-resounding victory in Sunday's national election.
· North Korean Foreign Minister Ri Yong Ho said U.S. President Donald Trump had declared war on the Asian nation and Pyongyang reserves the right to take countermeasures, including shooting down U.S. bombers.
· Merkel must find partners to build a coalition government after securing a fourth term as German chancellor.
· Escalating U.S.-North Korea tensions will "create a shift in assets. People are going to come out of shiftier assets like the S&P 500 and go into safe havens like gold, silver and the U.S. treasuries," said Phillip Streible, senior commodities broker at RJO Futures in Chicago.
· Silver rose 0.93 percent to $17.108 an ounce after falling more than 3.5 percent last week in the biggest weekly decline since early July.
Reference: Reuters
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