Gold rises towards $1,185 on sovereign risk

On Thursday, Gold rose toward $1,185 an ounce and held near record highs in euro terms on fears Greece’s debt issues may spread, with cautious comments from the European Central Bank doing little to temper risk aversion.

The press release is quoted as saying:

Spot gold was bid at $1,184.80 an ounce at 1404 GMT, versus $1,174.20 late in New York on Wednesday. U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange rose $10.20 to $1,185.20 an ounce.

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