Gold News

Gold is trading at $1,124 as of 8:00am, GMT, with a bullish trend

Gold rises as the euro gains slightly and demand for safety increases

Gold jumped on Monday as the U.S. greenback took a breather from a recent rally and fund buying picked up after the euro gained on talk about a speedy bailout for debt-ridden Greece. Investors have poured money into gold as a hedge against currencies’ volatility due to fears about debt defaults in the euro zone, while the metal’s steady rebound since falling below $1,100 also ignited technical buying. Dealers expected gold to eventually test January highs around $1,150. Gold is trading at $1,124 as of 8:00am, GMT, with a bullish trend. Gold