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Safe-haven Buying Drives U.S. Gold Higher

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  • Safe-haven Buying Drives U.S. Gold Higher

    CRIKEY !

    ps. Silver bullion is unavailable, or at best, 8 weeks for delivery.

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    Safe-haven buying drives U.S. gold higher
    Wed Sep 17, 2008 12:11pm EDT




    NEW YORK (Reuters) - U.S. gold futures rose 8 percent on Wednesday, soaring above $840 an ounce as investors poured into the gold market as a safe haven amid heavy losses in stocks and ongoing financial turmoil, traders said.

    The U.S. gold contract for December delivery was up $58.70, or 7.5 percent, at $839.20 an ounce at 11:55 a.m. EDT on the COMEX division of the New York Mercantile Exchange. The session high was $843.60.


    http://www.reuters.com/article/email...38549020080917

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