Gold rises above $1,190 as risk aversion returns

- July 20th, 2010

On Tuesday, Gold rose more than 1 percent to top $1,190 an ounce on buying of the precious metal as a haven from volatility in other markets, as investors awaited Friday’s outcome of stress tests on European banks.

On Tuesday, Gold rose more than 1 percent to top $1,190 an ounce on buying of the precious metal as a haven from volatility in other markets, as investors awaited Friday’s outcome of stress tests on European banks.

The press release is quoted as saying:

Spot gold was bid at $1,190.95 an ounce at 1541 GMT against $1,180.35 late in New York on Monday, having earlier slipped as low as $1,175.35. U.S. gold futures for August delivery rose $8.10 an ounce to $1,190.00.

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