Gold edges up to $1303 per ounce

Gold price has inched up and managed to break the barrier of USD 1,303 per ounce in the last week trading supported by positive US labor data, a specialized report showed Sunday. The report, by Sabayik Al-Kuwait precious metals trading company, said that the new price paves the way for a new level which may break the resistance point of USD 1,350 per ounce. It pointed out that the new US labor report has revived hopes of faster robust of the world major economy. The positive data of the report has driven gold to gain USD 23 per ounce and to break the barrier of USD 1,300 per ounce, the report said. It added that the other precious metals have followed suite, with silver closing last week at USD 20 per ounce. Platinum price grew to USD 1,450 per ounce. Palladium gained USD 12 to reach USD 790 per ounce