17.08.201714:06:00UTC+00Gold Runs Back Toward $1300 On Geopolitical, Domestic Turmoil

Gold futures rose Thursday as U.S. stocks tumbled and geopolitical concerns were again on the forefront. Dec. gold settled at $1,292.40/oz, up $9.50, or 0.7%.

At least one person is confirmed to have died and many are injured after a van crashed into a crowd of people in Barcelona. The death toll is expected to rise sharply.

Meanwhile, President Trump's controversial remarks threaten to further derail his pro-growth agenda.

The DJIA dropped 175 points as of mid-day, fueled by uncertainty over the Federal Reserve's next move on interest rates.

Economic data was overshadowed. A report released by the Federal Reserve on Thursday showed industrial production in the U.S. rose by slightly less than expected in the month of July.

The report said industrial production edged up by 0.2 percent in July after climbing by 0.4 percent in June. Economists had expected production to rise by 0.3 percent.