Gold Price News Today

Rising demand for physical gold, weak U.S. economic data drive gold back over $1,400

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Today the gold price continued its recent run-up, breaking through the psychologically important $1,400 level.

Following a 1.8% surge on Friday, gold prices hit $1,407 in trading in Asia early this morning (Monday) and ended the day up 0.66% at $1,405 an ounce.

That means gold has soared more than $200, or 16.7%, since sinking to $1,200 in late June.

Analysts pinned the latest increase in the gold price to weak U.S. economic data and tensions in the Middle East.

"When you look at gold, it only has to travel back through $1,416 to re-enter the bull market. So we're pretty close to that and it [the gains] has been the result of physical demand, geopolitical issues and also in the U.S., and what's happening with tapering," Jonathan Barratt, founder of the commodities newsletter Barratt Bulletin, told CNBC Asia's "Squawk Box."

Join the conversation. Click here to jump to comments…

  1. martha | September 10, 2013

    when does washington think it will be time to work on the country instead of worrying about with his feet on the desk or the last time he went to the bath room.of course i don't know all the facts but i would like to hear something good come from washington. this is a join effort and if one says the sun is shining the orther said its not. get together and work for both party and all people.

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