Gold Rises to $1,237.43 per Ounce

Tuesday saw gold rise 0.3 percent, to $1,237.43 per ounce, near a 12-week high reached earlier in the trading day, according to Reuters. Meanwhile, US gold futures for February delivery rose $5.20, to $1,237.90.

Gold has been pushed up in part by oil, which is near its lowest level in six years. Stock markets are also experiencing some volatility. “There is an element of beginning-of-the-year exuberance in gold, carrying over from the relative weakness in the equity markets at the moment,” Mitsubishi analyst Jonathan Butler told the news outlet.