Gold reaches highest level in 4 weeks

Gold attained its highest price in four weeks with start of last week trading, as shown in a specialized report issued here Sunday. According to Sabayek Al-Kuwait report, gold closed at USD 1,345 per ounce and managed to withstand the shock of Ukraine's political turmoil. True to analysts' forecasts, demand for the yellow metal increased and investment funds are again stocking the commodity which resulted in strong prices. When it came to silver, the report said the metal maintained its gain and passed USD 22 per ounce level more than once. However, it had actually faltered below USD 21 per ounce due to profit taking process. The local market was a quiet scene of much profit-taking as well early in the week