Gold Reaches Five Month High Near $1300

Gold rose more than 1 percent on Tuesday to a 4-1/2 month high as uncertainty over the extent of a stimulus program the European Central Bank is expected to unveil on Thursday drove investors into assets seen as lower risk.

Buying accelerated on a break of the previous day’s high, dealers said, as stops were triggered, taking the metal to a session high of $1,294.10 an ounce.

U.S. gold futures for February delivery settled up 1.4 percent, at $1,294.20 an ounce. The metal has gained for seven sessions of consecutive. It has increased about 7 percent during that period, its strongest seven-day run since September 2007.

CNBC

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