The COMEX August gold futures contract closed up $23.10 Monday at $1240.80, trading between $1212.10 and $1241.70
June 7, p.m. excerpts:
(from Dow Jones) --
Gold rallied to within inches of its U.S.-dollar record and beat its all-time high in euros as investors increasingly buy the metal as a hedge against financial deterioration in the euro-zone. Gold for August delivery rose 1.9% to settle at $1,240.80 an ounce, just missing the $1,243.10 record close for a most-active contract set in mid-May. "The global tensions are at a pinnacle," said Mike Daly, gold specialist at PFGBest. "People are saying, 'We don't have any confidence in these fiat currencies, and we need to move our money into tangible, safer assets.'"..
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