Gold Price Hits Two-Week High

Ad Feedback

The price of gold was on the rise again Tuesday and it continues its recent move higher.

Gold was up $24 dollars Tuesday morning to around $1,114. The precious metal is now up 6.8 percent since falling to a three-month low.

Gold also hit a record high in euro price. Although the euro did better against the dollar, the lack of a plan for Greece's debt problems appeared to make investors nervous and bring doubts about reserve currencies.

"It looks like safe haven buying is coming back into the market," said Michael Kempinski, a precious metals trader at Commerzbank in Luxembourg. "People are afraid of paper currencies and inflation."

Gold peaked over $1,200 late last year before it fell back in a correction to just over $1,000 dollars.

However many analysts believe gold is still in a longer term uptrend and they think it has a long ways to go before it tops out.

Log in or create an account to post a comment.  


Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBN News

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.