for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Safe-haven buying drives U.S. gold higher

NEW YORK (Reuters) - U.S. gold futures rose 8 percent on Wednesday, soaring above $840 an ounce as investors poured into the gold market as a safe haven amid heavy losses in stocks and ongoing financial turmoil, traders said.

The U.S. gold contract for December delivery was up $58.70, or 7.5 percent, at $839.20 an ounce at 11:55 a.m. EDT on the COMEX division of the New York Mercantile Exchange. The session high was $843.60.

Reporting by Frank Tang

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up