Gold Price Hits Six-Week High


The price of gold hit a six-week high on Jan. 23, as the metal was pushed upward by a recovery of the euro against the American dollar, according to Reuters.

The news outlet reported that confidence in the precious metal is growing, due to the fact that it has recorded three straight weeks of gains. Gold prices are up 7.1 percent since the end of December.

According to CNN, the price of gold for February delivery rose $6.50 to $1,670.50 an ounce, marking an increase of 0.39 percent for the commodity.

The metal is being helped by the recent positive news coming out of Europe, as commodities rose across the board.

“(Gold) is going up as a commodity at the moment,” Simon Weeks, head of precious metals at the Bank of Nova Scotia, told Reuters. “Commodities have had a good start to the year, full stop.”

MarketWatch reported that the advance in the price of gold came as Europe was set to consider prohibitions on any trade of precious metals with Iran, as foreign ministers from the EU planned to gather in Brussels.

Personal Liberty

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.