Gold prices spike above $1,300
Gold prices have surged by nearly $30/oz, rising to as much as $1,314/oz. No clear driver, but we're seeing the relationship between gold and the US dollar restored.
Analysts at CMC say that it's a rare positive day for the precious metal, and that the spike is on a thin underlying market.
Sharp rally in Gold – up about $29 – China & Japan hedging bets on US Treasuries or 'spivs & vagabonds?' – Who knows?
— David Buik (@truemagic68) October 17, 2013