Gold Rises to $1,314.60 per Ounce on Investors’ Fears

Gold rose slightly, by $4.02, to trade at $1,341.60 per ounce this morning, according to Reuters. Meanwhile, US gold futures rose $3.90, to $1,315.30 per ounce.

Those increases came as geopolitical tension and fears about slowing international economic growth gave investors reason to seek a hedge against risk. However, a stronger dollar and equity market, along with indications that the US economy is recovering, are limiting gains.

“Improving U.S. data suggests the gold price should continue moving lower, but uncertainty about geopolitical events are tempering bears’ conviction,” Matthew Turner, a Macquarie Group (ASX:MQG) analyst, told Reuters.