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Gold prices rise a second day due to the strengthening of the euro, but for all of January precious metal showed the maximum increase for that month since 1980. In January, prices rose by 11 percent due to weak dollar, demand of investors and consumers and through purchases by central banks.
The euro is rising after the announcement of increased industrial activity in Germany, carrying the gold. Analysts expect rally in the gold market this year, but warned of the possibility of lower prices in the near future.
The price of gold in euros are close to a maximum of six months, and in January rose 10percent.
Stocks ETF backed by gold funds in January rose to 650,000 ounces.
Cost of the February gold futures on the COMEX today rose to 1751.5 dollars per ounce.
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