Gold seems to be regaining its luster. The precious metal has rallied more than $100 in less than a week as investors turn to the precious metal as a safe haven amid concerns about Europe and signs of slow global economic growth.
The biggest move came Tuesday, when gold prices added nearly $50, or 3%, to top $1,700 per ounce for the first time in more than a month. Investors also poured nearly $564 million into the SPDR Gold Trust ETF (GLD), one of the most popular funds for investors seeking exposure to gold.
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