Gold jumps 8% in January—biggest monthly gain in 3 years
MarketWatch - Jan 30, 2015
Gold rebounded Friday in response to a report showing weaker-than-expected U.S. economic growth, closing out January 8% higher, its best monthly percentage gain since January 2012.
Gold futures for February delivery GCG5, +2.26% rallied $23.90, or 1.9%, to settle at $1,278.50 an ounce. March silver futures SIH5, +2.87% gained 43 cents, or 2.6%, to $17.21 an ounce.
Gold futures strengthened after the Commerce Department said fourth-quarter U.S. gross domestic product expanded at a 2.6% annualized pace, compared with expectations for 3.2% growth.
“The U.S. GDP number released today has clearly shown that the growth is slowing down and this is a positive sign if you are a buyer of gold,†said Naeem Aslam, chief market analyst at London-based AvaTrade.
