Capital Gold Group Report: Gold Rises on Worries Recession will Deepen

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By Moming Zhou

Last update: 1:48 p.m. EST Jan. 20, 2009
 

NEW YORK (MarketWatch) — Gold futures rose Tuesday for a second session, ending above $850 an ounce for the first time in more than a week as worries that the global economic recession will deepen raised the metal’s appeal as a safe haven. Gold for February delivery rose $15.30, or 1.8%, to close at $855.20 an ounce on the Comex division of the New York Mercantile Exchange, ending above $850 for the first time since Jan. 9.

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