(Kitco News) - Comex gold futures prices ended modestly higher Monday on some fresh safe-haven investor buying demand. Concern regarding North Korea and South Korea saber-rattling and about the European Union's debt crisis are supporting some fresh buying interest in the precious metals markets. February Comex gold last traded up $7.00 at $1,386.20 an ounce. Spot gold last traded up $10.20 at $1,386.25. The North Korea-South Korea military tensions continue. North Korea threatened another military attack if South Korea conducted fresh "live-fire" military exercises. It was reported the South Korea did conduct some military exercises Monday, with no incident. Still, the Koreas' situation has and will continue to support some safe-haven investment demand for gold and silver. European Union debt worries continue to surface in the market place, as has been the case much of this year. Last week, credit ratings agency Moody's downgraded Ireland's debt and placed Spain's on the watch list. The latest EU debt worries have the Euro currency under selling pressure, which is bullish for the gold market. Many investors have been buying gold with Euros, fearing further depreciation of the European common currency. The U.S. dollar index traded firmer Monday, also seeing some safe-haven buying interest from the EU and Koreas' developments. The dollar index bulls have regained some upside technical momentum. U.S. Treasury yields are at or near six-month highs, which is supporting the greenback and pulling some investment demand away from the precious metals. The London P.M. gold fixing was $1,380.00 versus the previous P.M. fixing of $1,368.50 an ounce. Technically, February gold futures prices closed near the session high Monday. The gold market bulls have the overall near-term technical advantage. An overall 4.5-month-old uptrend is in place on the daily bar chart. However, prices have been trending lower the past two weeks. Bulls' next near-term upside technical objective is to produce a close above solid technical resistance at last week's high of $1,408.90. Bears' next near-term downside price objective is closing prices below solid technical support at last week's low of $1,361.60. First resistance is seen at 1,390.00 and then at $1,400.00. Support is seen at $1,380.00 and then at $1,372.00. Wyckoff's Market Rating: 6.5. March silver futures closed up 21.2 cents at $29.345 an ounce Monday. Prices closed nearer the session high. The silver bulls have the overall near-term technical advantage. Silver prices are still in a 4.5-month-old uptrend on the daily bar chart. The next downside price objective for the bears is closing prices below solid technical support at $28.00. Bulls' next upside price objective is producing a close above solid technical resistance at last week's of $29.985 an ounce. First resistance is seen at $29.50 and then at $29.75. Next support is seen at $29.00 and then at Monday's low of $28.81. Wyckoff's Market Rating: 7.0. March N.Y. copper closed up 430 points at 420.20 cents Monday. Prices closed nearer the session high and are trading right near the recent 2.5-year highs. Copper bulls still have the solid overall near-term technical advantage. Bulls' next upside objective is pushing and closing prices above solid technical resistance at 425.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 400.00 cents. First resistance is seen at last week's high of 422.90 and then at 425.00 cents. First support is seen at Monday's low of 416.05 cents and then at 412.50 cents. Wyckoff's Market Rating: 8.0.

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