Gold reaches 19 week high
Adam Pike, News Editor
12 Mar 2014, 10:53 a.m.
Gold reached a 19 week high at £1,357.09 per ounce during Asian trading as tensions between the U.S. and Russia intensify and traders become nervous China’s economy is slowing.
Gold is up 13% in 2014 as the events in the Ukraine increase the demand for gold’s safe haven status and turmoil continues in emerging markets. Data out of China is also giving gold a boost following the confirmation that industrial output in February slowed.
Silver closed 1.5% up at $21.16 per ounce and platinum finished 0.6% higher at $1,473 per ounce.
Gold held in the world’s largest exchange traded product SPDR Gold Trust remained unchanged at 812.7 tonnes.