investing in gold : The price of an ounce of gold rose above $ 1,200 on Friday, as investors, including the purchase contributed to the cohesion of the precious metal in front of the rise of the stock markets, to reduce the losses it suffered due to fears of approaching raise US interest rates.
The director of Standard Bank branch in Tokyo, Yoichi Oekemezo, the high price of gold above $ 1230 an ounce last week, from about $ 1140 a week ago, he raised the case of caution among investors.
"The investors overindulge in pessimism no longer. Have learned their lesson when gold record big up and then do not have sufficient courage for sale near these levels."
The price of gold rose 0.2 percent in the spot market to $ 1200.50 an ounce by 07:11 GMT, after hitting its highest level in the session at $ 1201.50.
And contributed to the rise in weekly loss reduced the yellow metal to 1.8 percent, from more than two percent earlier Friday.
This decline is attributable largely to a decline of 2.5 percent, the price of gold, on Monday, its biggest losses this year, amid fears of raising US interest rates in 2015.
After that, the Fed completed a two-day meeting Wednesday, the US central bank hinted that it tends to increase interest rates in the next year, but said he was adopting a position that possess the patience and allowed the gold to dispel some of its losses.
The increased price of gold in US futures contract for February delivery 0.5 percent, to $ 1200.40 an ounce.
Among other precious metals, silver price rose 0.38 percent to $ 15.91 an ounce.
And platinum rose 0.59 percent to the price of $ 1201.60 per ounce, while the price of palladium rose 0.30 percent to $ 790.90 an ounce. gold investing news