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14 Feb 2014
Gold breaks above $1,300
FXStreet (Córdoba) - The value of the ounce rose further on American hours and reached $1,300 for the first time since November 8. Spot gold peaked at $1,302.80 and finished the day near the highs. Early in Asia retreated slightly but remained above $1,300.
The metal posted the fourth daily gain out of the last five days, extending weekly gains. On Monday started the week trading at $1,265 and since then it has risen more than $30 and is headed toward the highest weekly close since late October.
The price continues to move with bullish bias, recovering further from below $1,200, unaffected by risk aversion or risk appetite as it has risen on January when emerging market fears pushed stocks all over the world to the downside. Gold also rose on February when stocks so far are recovering.
The metal posted the fourth daily gain out of the last five days, extending weekly gains. On Monday started the week trading at $1,265 and since then it has risen more than $30 and is headed toward the highest weekly close since late October.
The price continues to move with bullish bias, recovering further from below $1,200, unaffected by risk aversion or risk appetite as it has risen on January when emerging market fears pushed stocks all over the world to the downside. Gold also rose on February when stocks so far are recovering.