Gold, Silver Rally as Dollar Sinks

Source:

"Gold futures rallied on Friday, as the U.S. dollar sank against other major currencies after European leaders put forward a plan to stabilize the region's banking sector."

MarketWatch, Claudia Assis and Polya Lesova

Gold futures rallied on Friday, as the U.S. dollar sank against other major currencies after European leaders put forward a plan to stabilize the region's banking sector.

Gold for August delivery GCQ2 +2.99% surged $48.40, or 3.1%, to $1,598.70 an ounce on the Comex division of the New York Mercantile Exchange. Prices traded as high as $1,601.30 an ounce, according to FactSet Research, and weekly gains have reached 1.6% so far.

Metal futures shot higher, along with other commodities and equities, after euro-zone leaders unveiled a series of measures aimed at bringing stability to the region's financial markets. Read more on Asia stocks. . .View Full Article

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