12th January 2012
Today's (January 12th) Spanish bond sale has been concluded in a positive manner and this has resulted in a rise in gold prices.
Commodity trading for the precious metal has been extremely positive this afternoon after the bond sale saw significant investment, although many analysts still fear the region is facing a serious ongoing debt crisis, Reuters reports.
As a result, spot gold was up by one per cent at $1,656.89 as of 12:51 GMT and earlier in trading touched a one-month high at $1,657.60.
"We may see a slightly more dovish statement regarding long-term operation rates and bond buying, [including] new liquidity measures," said LGT Capital Management analyst Bayram Dincer.
Earlier this month, cash gold prices were up by 0.4 per cent to $1,628.52 per troy ounce on January 6th, while bullion for February delivery gained 0.6 per cent to stand at $1,629.30 on the New York Comex exchange.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.