Gold Just Spiked

The price of gold just popped more than $US15 an ounce.

In morning trade in New York on Tuesday, gold futures spiked from around $US1,185 an ounce to north of $US1,200 in just a few minutes.

This is a gain of more than 1.5%.

Nothing major going on in markets today to act as an obvious catalyst for the rise, as markets are fairly quiet between holidays, and the price of oil — which is the more closely watched commodity these days — is doing nothing.

Either way, here’s the huge spike in gold on Tuesday, charted.

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