Gold Nears $1,200 in Comeback

After weathering a tough 2015, the price of gold was closing in on the $1,200-an-ounce benchmark at press time, a reflection of continued global instability and a mixed jobs report.

In 2015, the metal logged its third down year in a row by falling almost 11 percent. But this year bullion has shown something of a comeback. At press time, the yellow metal was trading at $1,196 an ounce. It began the year at $1,060 an ounce.

Reports credited the increase to Friday’s mixed U.S. job report, which has caused traders to reassess their view of an interest rate hike. 

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JCK News Director

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