Gold Rises to $1,299.22 per Ounce on Fund Inflows

Gold rose 0.2 percent or $2.60 to trade at $1,299.22 per ounce on Tuesday, according to Reuters. The metal ended a two-day run of losses as gold exchange-traded products received significant inflows. The SPDR Gold Trust, which is the world’s largest gold-backed exchange-traded fund, said its own holdings rose 2.09 tonnes to 797.69 tonnes, representing the fund’s first inflow in nearly a month. Geopolitical tensions also contributed to the rise, as dozens of people were killed while fleeing fighting in eastern Ukraine on Monday.

The gains from these factors were capped, however, by strong equities and a well-performing dollar.

U.S. gold gained $1 to trade at $1,300.50 per ounce.

Get the Latest Gold Investing Stock Information

Get the latest information about companies associated with Gold Investing delivered directly to your inbox.

Gold
Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA
Other Companies

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Gold Outlook Report - Late 2017!

Get your FREE Updated Gold Outlook Report. Includes expert commentary, production numbers and gold stocks to keep an eye on.

Click here to get your free report!
Comments

Leave a Reply