Gold Settled $8.20 Higher ($1259.30)

By Mike Daly
07 September 2010 @ 03:42 pm EDT

Today’s Gold session covered a $15.20 range. The rally today was fueled by “safe haven” buying as the news from the European Union renewed speculators worries about the fragility of the region. There are legitimate concerns regarding a possible default of sovereign debt in Europe and the economic growth of European Banks. Also fanning the flames was news that Germany’s manufacturing orders fell 2.25 IN July. The Euro region continues to struggle and is forcing savvier investors to choose alternative “safer haven” investments…

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