Gold futures jump to $1,240.30 per ounce, up $22.60

Filed under: Major Movement, International Markets, Personal Finance, Commodities

Gold is on the move today. August gold futures are trading at $1,240.30 per ounce, up $22.60 (12:30 EDT.) One of the triggers that set the rally off was a breach of the $1.19 level in the euro. The June euro traded at $1.18740 earlier this morning.



Leonard Kaplan of Prospector Asset Management commented: "People are still buying gold for currency protection." "People should remember that the euro was once at 85 cents and I see no reason why it shouldn't go there again."

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Gold futures jump to $1,240.30 per ounce, up $22.60 originally appeared on BloggingStocks on Mon, 07 Jun 2010 17:30:00 EST. Please see our terms for use of feeds.

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