Gold Surges as U.S. Consumers Turn Gloomy

Reuters reported that weak US economic information and euro zone debt concerns caused gold prices to rally.

As quoted in the market news:

Spot gold was last up 2 percent on the day at $1,685.70 an ounce, having risen by 4.0 percent over the last three trading days, its best three-day performance in two months. For this month, however, it has underperformed most major markets.

Click here to read the full Reuters report.