Gold swings higher as risk aversion picks up

On Monday, Gold erased early losses and rallied to a three-week peak of $1,233.75 an ounce as investors took advantage of the dip in prices to buy the metal as a haven from risk in other markets.

The press release is quoted as saying:

Spot gold was bid at $1,230.95 an ounce at 1512 GMT, against $1,218.00 late in New York on Friday. U.S. gold futures for August delivery rose $16.00 to $1,233.70.

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