Gold rises to its highest level in five months

Gold prices rose today by about 2%, to record their highest level in five months, and achieve gains for the fifth consecutive session, after US inflation data, which recorded the largest annual gains since 1990.

Spot gold rose 1.4% to $1,857.30 an ounce, after rising earlier in the session to $1,868.2, the highest since June 15, and US gold futures rose 1.7% to $1,861.60 an ounce. As for other precious metals, silver rose 3.2% to $25.06 an ounce, and platinum rose 2.7% to $1087.10, and palladium rose 1.6% to $2,053.01 an ounce.