Gold was up for a fifth day on Wednesday as geopolitical risks over North Korea remained elevated, and as low U.S. inflation concerns left some Federal Reserve officials backing delays in further interest rate hikes.

Fundamentals

* Spot gold was up 0.1 percent at $1,339.87 per ounce by 0101 GMT, after touching its highest level since early September at $1,344.21 in the previous session.

* U.S. gold futures for December delivery were nearly unchanged at $1,345.00.

* Asian stocks tracked Wall Street's slide overnight to slip on Wednesday while the dollar was on the defensive, with tensions in the Korean Peninsula showing little signs of abating.

* A top North Korean diplomat on Tuesday warned that his country is ready to send "more gift packages" to the United States as world powers struggled for a response to Pyongyang's latest nuclear weapons test.

* Business activity in the euro zone stayed robust in August as it outpaced Britain, where an economy increasingly bogged down by Brexit worries lost momentum, surveys showed on Tuesday.

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