Gold prices are growing on December 9 morning as investors are assessing the precious metal as an asset, Report informs referring to the auction data.
The price of the February gold futures contract on the New York Comex stock exchange rose by 0.11%, or $2, to $1,787.55 per troy ounce.
Analysts at Commerzbank believe that political tensions between the US and Russia could help fuel demand for “safe” assets like gold in the near future.
In addition, investors will be watching US inflation data on December 10, which could have an impact on the dollar. Analysts believe that on an annualized basis, consumer prices in the country rose by 6.8% in November, which might be a record since 1982.