Gold advances as U.S inflation increases
Duncan Richardson, News Editor
17 Jan 2014, 12:33 p.m.
Gold advanced yesterday to a one month high of $1,255.30 per ounce as the latest government report showed U.S consumer price inflation rose at its fastest rate in six months. According to Phil Steible commodity broker at R.J. O’Brien, gold’s appeal as a safe haven asset and hedge against inflation is back. In 2013 gold lost 28% as inflation fears remained subdued.