Gold Touches 2-Week Highs after Central Banks Step In

Reuters reported that an effort by banks to prevent a meltdown of financial markets caused gold prices to rise.

Reuters reported that an effort by banks to prevent a meltdown of financial markets caused gold prices to rise.

As quoted in the market news:

Gold was last flat on the day at $1,745.54 an ounce by 1544 GMT, having risen to a session peak of $1,754 earlier, its highest since November 17. Gold rose 1.9 percent in November, clocking up a seventh month of gains so far in 2011, but was still 9 percent below September’s lifetime high at $1,920.30.

Click here to read the full Reuters report.

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