Gold Soars On Safe-Haven Demand Amid World Markets Turmoil

New York (Feb 11)  Safe-haven gold soared to a 12-month high above $1,240 an ounce Thursday. Gold prices have appreciated around 15% since early January. There is keen worldwide investor and trader risk aversion Thursday as most world stock markets absorbed sharp losses overnight. Falling crude oil prices, worries about the European financial system and weak overall world economic growth prospects are combining to spook the world marketplace. The Stoxx Europe 600 index was down nearly 4% overnight.

Source: KitcoNews