Gold steady off 2-month highs

On Wednesday, Gold steadied off the two-month highs it hit earlier, when it broke above $1,250 an ounce for the first time since late June as concerns over the pace of U.S. economic growth prompted buying of the metal.

The press release is quoted as saying:

Spot gold was at $1,248.60 an ounce at 1339 GMT, up from $1,248.99 late in New York on Tuesday but below a high of $1,254.65 an ounce hit in earlier trade. It also remained below this week’s two-month highs in euro terms.

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