Gold surges to 4-month high

July 10, 2014

London (July 10) Gold futures rallied to fresh 4-month highs Thursday as a selloff in European stocks triggered a bout of risk aversion.

The yellow metal broke to the upside and rallied nearly $15 in a matter of minutes to a high of $1346 an ounce, last seen March 19. At time of writing, the metal is trading at $1344, 1.48% above its opening price.

Yesterday’s Fed minutes showed FOMC members agreed to end their bond-buying program in October if the economy holds up, which is weighing on stocks and sentiment.

Source: FXstreet

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