Gold extends gains after retail sales data

- June 11th, 2010

On Friday, Gold extended gains in Europe as weaker-than-expected U.S. retail sales data brought risk aversion back to the market, pressuring stocks and the euro and boosting interest in bullion as a safe haven.

On Friday, Gold extended gains in Europe as weaker-than-expected U.S. retail sales data brought risk aversion back to the market, pressuring stocks and the euro and boosting interest in bullion as a safe haven.

The press release is quoted as saying:

Spot gold was bid at $1,225.25 an ounce at 1248 GMT, against $1,215.80 late in New York on Thursday. U.S. gold futures for August delivery rose $4.70 to $1,227.00.

Click here to access the entire press release

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