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Gold price reaches highest level in four weeks: report

KUWAIT CITY, March 2, (KUNA):  Gold attained its highest price in four weeks with start of last week trading, as shown in a specialized report issued here Sunday. According to Sabayek Al-Kuwait report, gold closed at $1,345 per ounce and managed to withstand the shock of Ukraine’s political turmoil. True to analysts’ forecasts, demand for the yellow metal increased and investment funds are again stocking the commodity which resulted in strong prices. When it came to silver, the report said the metal maintained its gain and passed $22 per ounce level more than once. However, it had actually faltered below $21 per ounce due to profit taking process. The local market was a quiet scene of much profit-taking as well early in the week.
 

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