Gold pierced the $1,300 level to extend a new year rally. Investors flocked to the metal with global equities in retreat, signs of a slowdown stacking up, and the oldest of havens showing its mettle as exchange-traded funds draw in increased flows.
Futures spiked as much as 0.4 percent to $1,300.40 an ounce on the Comex, the highest price since June, and were at $1,296.50 at 6:36 a.m. in London. Spot prices were not far behind, hitting as much as $1,298.60. Silver also gained to the highest since July.
Source : Bloomberg