Gold Approaches Record High on Haven Demand Amid U.S., Europe Debt Anxiety

Bloomberg reported that gold rebounded on renewed worries about European and US debt.

The market news is quoted as saying:

Gold futures for August delivery rose $14.50, or 0.9 percent, to settle at $1,601.50 at 1:39 p.m. on the Comex in New York, after reaching $1,607.70.

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