Gold rises above $1,100/oz

On Monday, Gold rose back above $1,100 an ounce in Europe as rising fears over sovereign debt after a Moody’s report. In addition a currency row between China and the United States prompted buying of the metal as a haven from risk.

The press release is quoted as saying:

Spot gold was bid at $1,102.80 an ounce at 0923 GMT (4:23 a.m. ET), against $1,099.50 late in New York on Friday. U.S. gold futures for April delivery on the COMEX division of the New York Mercantile Exchange rose $1.10 to $1,102.80 an ounce.

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