Posted by: youngragingbull | May 30, 2013

Gold crosses $1,400, highest close in 2 weeks

Gold futures at their highest level in over two weeks as a further, disappointing U.S. economic data and strong physical demand from Asia combined to lift prices back above $1,400 an ounce.

August gold gained $20.20, or 1.6%, to settle at $1,412 an ounce on the Comex division of the New York Mercantile Exchange.

Prices had climbed 0.9% in the previous session.

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