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.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.