Gold Rallies To Two-Month High On Safe-Haven Bids

ShanghaI (jAN 27)  Gold rallied for a third session on Monday to its highest in two months as equities fell on worries that capital outflows from emerging economies would continue, boosting bullion's safe-haven appeal. Spot gold had risen 0.3 percent to $1,272.99 an ounce by 0341 GMT, after earlier hitting a two-month peak of $1,278.01.

U.S. gold futures climbed 1 percent, while other precious metals also edged higher. "A poor performance from U.S. equities lifted sentiment and boosted safe-haven demand for gold," said Joyce Liu, an investment analyst at Phillip Futures.