Gold Rebounds on Demand for Haven

Bloomberg reports that Gold futures rose, rebounding from the biggest weekly loss since July.

The market news is quoted as saying:

The cost of insuring European sovereign debt against default increased to a record today before Portugal’s bond sale on Jan. 12 and Spain’s the following day. Gold gained 30 percent last year as bailouts of Greece and Ireland sent the euro down 6.5 percent against the dollar.

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