Reuters
Gold gains as economic worries mount
Gold prices rose on Wednesday as a retreat in U.S. Treasury yields and the dollar bolstered bullion’s appeal amid growing recession concerns. Spot gold reversed initial declines to rise 0.5% to $1,841.95 per ounce by 10:37 a.m. ET (1437 GMT), while U.S. gold futures gained 0.3% to $1,844.70. “The fundamental going in the gold market is this pendulum going back and forth between the inflationary pressures and Fed’s commitment to fight it,” said David Meger, director of metals trading at High Ridge Futures.