Gold eases but safe-haven bid to persist

Gold prices eased off Monday’s record highs in afternoon trade in Europe, as investors took profits, but analysts reported persistent concern over sovereign risk would make any declines short-lived.

The press release is quoted as saying:

Spot gold was bid at $1,252.15 an ounce at 1425 GMT, against $1,255.35 late in New York on Friday. U.S. gold futures for August delivery eased $4.50 to $1,254.00.

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