Gold futures rallied nearly $50 Tuesday and closed above $1,700 an ounce as fresh concerns surfaced over Europe's debit crisis.
"People are realizing that the European situation is not resolving itself, and it's coming to the forefront again," Reuters earlier quoted Zachary Oxman, managing director at futures broker TrendMax.com. "If we can close above $1,700, I think we will see a meaningful jump in the next few weeks and $1,900 is very possible again."
Gold futures rallied nearly $50 Tuesday and closed above $1,700 an ounce as fresh concerns surfaced over Europe's debit crisis.
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