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News: Spot gold trading over A$1640 an ounce

  1. The 1.9% jump in the gold future price in New York on Friday is being maintained in the spot market this morning.

    Spot gold is currently changing hands at US$1280 an ounce at 12noon EDST Sydney, and with the AUD / USD a touch under 78 cents. This prices gold in the local money at over US$1640 an ounce.

    Gold was higher Friday after the Commerce Department said fourth-quarter U.S. gross domestic product expanded at a 2.6% annualized pace, compared with expectations for 3.2% growth.

    The U.S. dollar gold price rallied 8% in January, for its best month in two years.

     

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