Otmane El Rhazi from
The Bullion Desk.
- The gold price is hit fresh four month highs as the yellow metal’s status as a safe haven asset has seen the price boosted, while other markets are turbulent.
- The metal jumped above $1,275 per ounce in late afternoon sessions to a high of $1,278 as poor data from the US coupled with news in the week from Switzerland increased its appeal
- This week has seen some notable price movements, but the key was yesterday’s sessions, when following an announcement from the Swiss National Bank that it will abandon the euro-swiss franc exchange rate
- Next week we could see further volatility as the ECB are set to meet and it is widely expected they will announced a broad-based government bond purchases.
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