Gold prices rose sharply today , reaching the highest level in six months , benefiting from the fall in stock prices , which was due to tensions between Russia and Ukraine and the problems of economic growth in China.

Since the beginning of the week the price of the precious metal rose more than 2 percent , and are on their way to their sixth consecutive weekly increase , as risk appetite decreased by increasing political tensions and economic problems.

Gold rose 14 percent this year after a 28 percent decline in 2013 , ending a 12- year increase in a row.

" As for Ukraine , the impact on gold can disappear quickly if there is a diplomatic solution , whereas the structural changes that occur in China can affect the precious metals longer," reported Deutsche Bank. "But we still believe that the U.S. labor market and the Fed's policy will play a major factor in the movement of prices , and in the long run you will see the price drop ."

It should also be noted that the rise in prices to attract new investors and simultaneously reduces demand in the physical market in developing countries. In the future, gold will meet increasingly strong resistance , and significant growth opportunities would need a stronger euro . Reduction of physical demand in China , at least temporarily prevent a new rally.

In addition, data showed that the world's largest reserves of gold exchange-traded fund secured SPDR Gold Trust rose yesterday to 2.1 tons - up to 813.3 tons.

Demand in China - the world's largest consumer of gold declined and prices on the Shanghai Gold Exchange were at $ 4 per ounce lower than the spot price in London , while at the beginning of the year, prices in China were $ 20 higher.

The cost of the April gold futures on the COMEX today rose to $ 1385.20 per ounce.