Gold is trading slightly lower today after adding gains for five consecutive session but is still trading near a 2-week high, supported by a broadly weaker greenback - as gold is dollar-denominated and not yield-bearing. Last week bullion added the most in one week since the January 2015. U.S. inflation data showed that the FED still is on track for a possible rate hike in the middle of the year. Lately the somehow dovish FED statement lend some support to the precious metal and ongoing uncertainty over the Greek bailout and its future in the Eurozone add to bullish investor's sentiment.
Gold is currently quoted at USD1,192.30, -0,03% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40. On Tuesday last week gold traded as low as USD1,142.50, a three-month low.