Higher supplies to the UK lift Swiss October gold exports
Supplies from Switzerland to Britain in October reached the highest level since June 2021.
Live gold prices by Kitco.com
Gold prices spiked in New York on Tuesday morning, gaining more than $15 an ounce in a matter of minutes and almost hit $1,210 before 10:00 am.
Worries over tension between Russia and the West, a fresh wave of political uncertainty in Greece, and a weaker dollar helped push the precious metal through key chart levels, triggering fresh buying.
Gold for February delivery, the most actively traded contract, recently was up $22.20, or 1.9%, at $1,204.10 a troy ounce, its highest intraday price in more than a week on the Comex division of the New York Mercantile Exchange.
And while the trend in gold has been negative this year, with prices down 14% from their highs, some believe that $1,200 will be the new normal for the precious metal in 2015.
