Gold futures hit their highest price since August 2016 on Wednesday, rising as investors fled to perceived safe havens after President Donald Trump threatened a missile strike in Syria.
Gold for June delivery climbed as much as 1.75 percent to $1,369.40 an ounce on the Comex in New York, its highest level since Aug. 5, 2016, when gold futures traded as high as $1,371. Gold futures prices later retreated slightly from those levels to settle at $1,360.
The metal's price jumped markedly after Trump warned Russia to "get ready" for a missile strike in Syria following a recent chemical weapons attack allegedly carried out by the government of Syrian President Bashar Assad. Trump also criticized Russia's government in a rare rebuke on Sunday, scolding Russian President Vladimir Putin for Moscow's support of Assad.