Precious Metals

Bloomberg reported that increased demand for an investment haven pushed gold to the highest levels in seven weeks.

Bloomberg reported that increased demand for an investment haven pushed gold to the highest levels in seven weeks.

The market news is quoted as saying:

Gold futures for August delivery rose $12.30, or 0.8 percent, to $1,558.70 an ounce at 11:32 a.m. on the Comex in New York. Earlier, the metal reached $1,559.30, the highest for a most-active contract since May 2, when the price reached a record $1,577.40.

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