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- Gold hits 1.5-month high
Gold hits 1.5-month high
Gold price rose due to increasing demand for safe-haven assets. News that North Korea successfully tested hydrogen nuclear bomb supported gold price.
Market participants continued to eye the situation in the Middle East.
Concerns over slowdown in the Chinese economy also supported gold price. The Caixin/Markit Services Purchasing Managers' Index (PMI) for China declined to 50.2 in December from 51.2 in November, missing expectations for an increase to 52.3. The index was driven by a subdued client demand.
February futures for gold on the COMEX today rose to 1092.60 dollars per ounce.
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