Gold price at its highest since start of year

KUWAIT: Gold price made its highest revenue since the beginning of the year, hitting $1,358 per ounce in last week’s trading in fear-driven global markets and a weak US Dollar, according to Sabaek Al-Kuwait Company. It added in its report yesterday that the yellow metal is climbing up in the coming period, backed by US ‘negative’ data on jobs, Consumer Price Index (CPI) and retail for last May. The upward trend would go parallel with outcomes of tomorrow’s Federal Reserve meeting. Gold’s price ended last week’s trading at $15 per ounce. Other precious metals’ prices were; platinum at $820 per ounce and palladium at $1,465 per ounce. – kuna

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