MW: Gold soars to record as consumers cut spending
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Gold futures traded at a record Tuesday, shooting up after the U.S. government said consumer spending fell 0.2% in June, the first decline in almost two years. Gold for December delivery GC1Z +1.10% added $17.10, or 1.1%, to $1,638.70 an ounce. A settlement around these levels would be the highest mark yet for the metal, which traded as high as $1,643.70 an ounce, an intraday record.
