Gold up as dollar dips

Investors using their personal wealth to trade in gold have seen the value of the precious metal rise during trading today (April 12th).

According to Bloomberg, the metal - which has an inverse relationship with the dollar - touched a four-month high early in the day.

It rose 0.7 per cent to reach $1,170 (£758.65) per ounce, before retreating slightly to be priced at $1,165.45 per ounce at 10:12 local time in Singapore.

The commodity has now climbed for six days in a row and the surge coincided with a fall in the dollar, which was down by as much as 1.2 per cent against a basket of six global currencies on the news Greece is to receive a bailout package from eurozone countries.

Chris Yoo of Samsung Futures was quoted by the news source as saying: ’The euro is surging now and gold is gaining too.’

Despite the strong performance of last week, investors may wish to heed the words of Bestinvest’s Adrian Lowcock, who recently said buyers should not focus entirely on the precious metal when making asset purchases.ADNFCR-2318-ID-19715195-ADNFCR