Gold
futures marked their highest settlement in more than a week on
Wednesday as a U.S. report on home sales fueled nervousness in financial
markets, driving investors out of assets viewed as risky, like stocks,
and into those perceived as safe.
April
gold climbed $16.50, or 1.4%, to settle at $1,239.10 an ounce. The
settlement was the highest since Feb. 12. Prices, which rose 1% Tuesday,
touched an intraday high of $1,254.30.
Gold
extended its gains after the Commerce Department showed a 9% decline in
new homes sales in January, adding to concerns about the U.S. economy.
March silver also got a bounce from a flight to haven assets, adding 5.7 cents, or 0.4%, to $15.297 an ounce.
Source: Marketwatch
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