Gold prices hit 4.5 month highs on Tuesday morning (Jan. 20) on safe-haven demand as world markets collectively hold their breath preceding the European Central Bank’s proposed stimulus program, which is expected to be announced later in the week.
Spot gold rose 1 percent, nearing the $1,300 mark, while futures for February delivery jumped up to $1,288.60 an ounce.
Jeff Clark, Senior Precious Metals Analyst at Casey Research, believes owning gold is key right now based on the price of the metal in other currencies and gold’s value as a hedge against inflationary factors.
Clark tells GoldSeek TV in an interview:
“The setup is actually perfect for gold. The circumstances are definitely very bullish, and are giving a strong indication you need to own a sufficient or meaningful amount of gold, right now.”
See the full story on GoldSeek.com
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