Gold price rose above the psychological barrier of 1,300 USD per ounce for the first time since August amid investors’ appetite for assets havens in view of the political and economic uncertainty in Europe. The futures on the gold with delivery in February rose to 1,300.30 USD per ounce, considering the daily increase of 0.47 per cent. The level is the highest since 12th August 2014. Meanwhile silver with March delivery rose by 1.68% to 18.258 USD per ounce, which in turn is the highest level since 10th September 2014.
Precious metals are enhanced by gold confirms the rise amid continuing strong demand for ETF with a view to growing speculation that the European Central Bank (ECB) will increase economic incentives. Silver and platinum you continue to follow closely the movement of the yellow metal. Meanwhile, assets of the largest in the world, backed by the gold exchange traded fund SPDR Gold Trust rose to 742.24 tons on Tuesday.
Furthermore forthcoming ECB markets have turned their attention to the continuing problems in Ukraine, political uncertainty in Greece and turmoil caused by the decision of the Swiss central bank removed the ceiling for appreciation of the franc against the euro. The next big event, however, is undoubtedly the meeting led by Mario Draghi institution on Thursday, then likely the Eurozone will acquire quantitative easing similar to asset purchases in Japan.