Gold Futures Climb on Possibility of Europe Debt Control

Bloomberg reported that gold futures hit a one-week high on Thursday, encouraged by signs that Europe’s debt crisis may be under control.

As quoted in the market report:

The Standard & Poor’s GSCI Spot Index of 24 raw materials climbed to a one-week high, and the dollar dropped against a basket of major currencies. Euro-area finance chiefs discussed giving Greece more time to meet bailout targets. Holdings in exchange-traded products backed by gold climbed to a record yesterday, according to data compiled by Bloomberg .

To view the whole Bloomberg report, click here.