Gold soared to $1,345 an ounce on Thursday, its highest level in more than three months. Gold prices got a firm boost Wednesday following statements coming out of the Federal Reserve meeting reassuring the marketplace that interest rates will remain low for a considerable time.
Continuing tensions in the Middle East, where Israel has rallied 20,000 soldiers in preparation for a possible invasion on the Gaza Strip, in addition to escalating trouble in the European bank sector, are the primary catalysts that propelled the price of gold to its three-month high on Thursday.
For more on Thursday’s market activity and the world events supporting it, read these reports from Bloomberg and The Wall Street Journal:
Gold Reaches 3-Month High, Palladium Highest Since 2001, Bloomberg
Gold Prices Soar on European Bank Worries, The Wall Street Journal
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