Gold prices rose to trade near a 25-year high on Asian markets
Gold prices rose to trade near a 25-year high on Asian markets as investors bet the precious metal will keep outperforming U.S. stocks and bonds.
Gold has jumped almost $100 an ounce, or 19 percent, since the end of November.
Gold for immediate delivery rose as much as $1.40, or 0.2 percent, to $589.25. It traded at $588.19 at 11:52 a.m. Sydney time. Yesterday, it rose to as high as $591.92 an ounce, the highest since early January 1981.
In the medium term, technical charts some traders use to predict price moves suggest ``there are still higher highs to come with the market set to trend well above $600 in the months ahead,'' the Barclay analysts said.