7
May
Gold jumps 3 percent to near record
7 May 2010 Reuters
Gold prices vaulted 3 percent on Thursday to near an all-time high, topping $1,200 an ounce in the biggest one-day gain in more than a year as financial turmoil in Europe and tumultuous U.S. equity trade accelerated the flight to safety.
After trading higher through most of the day, gold prices rallied sharply at mid-afternoon, passing the $1,200 mark for the first time since December 4 as stocks plunged on what sources said was an erroneous trade at a Wall Street bank.
