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On Tuesday, Gold prices rose back above $1,200 an ounce in Europe after a ratings agency downgrade of Portugal knocked the euro, boosting the metal’s appeal as a hedge against currency market volatility.
On Tuesday, Gold prices rose back above $1,200 an ounce in Europe after a ratings agency downgrade of Portugal knocked the euro, boosting the metal’s appeal as a hedge against currency market volatility.
The press release is quoted as saying:
Spot gold was bid at $1,204.10 an ounce at 0909 GMT (5:09 a.m. EDT), against $1,194.85 late in New York on Monday. U.S. gold futures for August delivery firmed $5.70 an ounce to $1,204.40.
