Gold Rises Above $1300 Per Ounce Over Hopes Of ECB Stimulus Measures

GOLD SUMMARY 1/21/2015

• Gold climbed above $1,300 an ounce today for the first time since August as worries over the global economy and hopes of stimulus measures from the ECB fueled safe-haven bids.
• After shunning gold for two years, investors are returning to the precious metal, boosting prices 4.7% just last week.
• The IMF and World Bank’s weak global growth outlooks and SNB’s abrupt removal of franc’s euro cap last week are also prompting reasons to move into the commodity.
• ECB meets on Thursday, expected to set stimulus measures
• Dollar index weakens as yen gains*
• SPDR gold fund sees more inflows

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 Precious metals prices 0752 GMT
 Metal           Last     Change  Pct chg
                                  
 Spot gold        1299.6    6.04     0.47
 Spot silver       18.22    0.29     1.62
 Spot platinum   1279.49    5.09      0.4
 Spot palladium    778.5     6.8     0.88
 Comex gold       1299.6     5.4     0.42
 Comex silver      18.24   0.284     1.58
 Euro             1.1563                 
 DXY              92.799

COMEX gold and silver contracts show the most active months
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