FXstreet.com (Barcelona) - Gold futures recently experienced a boost to the upside following a slew of UK price indices including a less-than-expected monthly and yearly CPI. The most active contract for April delivery, jumped nearly $10.00 to a fresh 4-week high in $1375.00 a troy ounce before settling slightly underneath by time of writing.
The gold bullion has been recovering in recent weeks from a nearly 4-month low of $1309.10 reached in the final days of January. Political unrest in Egypt and elsewhere in the region has helped to spur safe-haven demand for the yellow metal, however lower-than-expected physical demand in India and China amid the Lunar New Year has limited gains to the upside.
The recently released British CPI report supported the broad jump for the gold bullion, as concerns of inflation in key economies continue to play on the minds of investors. The yellow metal is widely seen as a hedge investment for inflationary risks.
