Bloomberg reported that gold futures hit a one-week high on Thursday, encouraged by signs that Europe’s debt crisis may be under control.
As quoted in the market report:
The Standard & Poor’s GSCI Spot Index of 24 raw materials climbed to a one-week high, and the dollar dropped against a basket of major currencies. Euro-area finance chiefs discussed giving Greece more time to meet bailout targets. Holdings in exchange-traded products backed by gold climbed to a record yesterday, according to data compiled by Bloomberg .