Gold advances after Friday’s price fall
Peter Walden, News Editor
9 Feb 2015, 12:40 p.m.
The gold price has rebounded from Friday’s fall following Greek Prime Minister Alexis Tsipras latest rejection of country’s bailout and concerns the conflict in the Ukraine could escalate out of control. The gold price has risen 0.75% this morning to $1,238.98 per ounce.
Alex Tsipras reaffirmed his party will increase the minimum wage and stop privatization of state infrastructure. Tsipras comments will surely infuriate his countries creditors ahead of the euro-area emergency meeting which is scheduled in later this week.
The situation in the east of the Ukraine continues to deteriorate as both sides step up military action. According to the United Nations around 5,500 people have died in the conflict so far. If the U.S and their European partners decided to arm the Ukrainian army expect Russia to retaliate and the gold price to surge.
Gold is currently trading at £815.40 per ounce, silver at £11.15, platinum £803.22 per ounce and palladium £514.78 per ounce.