Gold jumps $12 on US exodus
12 April 2012
GOLD surged to its highest for six-and-a-half years today as rattled investors deserted US assets for the precious metal. Ahead of US Secretary of State Colin Powell's crucial statement on Iraq later today, gold leapt almost $12 to $388.50 an ounce.
Traditionally the ultimate safe-haven asset in times of uncertainty, the price of gold has gained more than 13% since the start of the year. War fears today drove up the price of a barrel of Brent crude oil 45 cents to $31.54.