Global Growth Concerns Push Gold to $1,313.99 per Ounce

Today, as investors found reason to doubt global economic growth, gold rose 0.4 percent, or $5.26, to $1,313.99 per ounce, according to Reuters. Meanwhile, US gold futures rose $4.20, to $1,315.40.

“Investors are moving on to the macroeconomic factors although there is still a lot of talk of sanctions against Russia,” Mitsubishi analyst Jonathan Butler told the news outlet. “The outlook for gold looks bearish given what we just heard from the Fed, the possible rise in interest rates soon after the QE [quantitative easing] tapering is done.”