Gold climbs to 16-week high as US data adds to haven demand

London, Feb 24. Gold today rose to the highest price in more than 16 weeks on speculation weaker US economic data and political turmoil in Ukraine raised haven demand. Gold gained 0.7 per cent to USD 1,333.49 an ounce. It reached USD 1,334.61 earlier today, the highest since October 31. Silver also rose 0.4 per cent to USD 21.87 an ounce. Sales of previously owned US homes dropped in January to the lowest level in more than a year, data showed February 21.