Gold

The price for gold bullion, measured in fine troy ounces, is fixed twice a day in London to allow market users to trade gold at a single level.

The gold spot price rose to its highest level this year yesterday as global equity markets started the quarter with strong rises.

Jupiter's Merlin multi-manager team, led by CIO John Chatfeild-Roberts, have refused to rule out the possibility of a default by a nation in "the garlic belt" of Mediterranean countries.

The FTSE 100 gained more than 80 points in early trading while global markets leapt higher overnight, lifted by the Federal Reserve's latest round of quantitative easing.

Gold has climbed to its highest level in more than five months as speculation the next round of QE in the US is just weeks away pushed the precious metal higher.

Gold miners and their peers helped push the UK's leading index higher today, enjoying gains as precious metal prices rose.

The US Republican party is reportedly to look at restoring the link between the dollar and gold as part of its platform for the 2012 elections.

Billionaire investors George Soros and John Paulson have upped their stakes in the largest exchange-traded fund backed by gold as the commodity posted the largest quarterly drop since 2008.

Global mining giant Rio Tinto has suffered a 22% drop in profits for the first half of 2012 as weak commodity prices hit growth.

Managers of the £276m Ruffer Investment Company have increased their exposure to gold on hopes global central banks will act soon to collectively expand their balance sheets.