By Claudia Assis and Chris Oliver, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures rose on Wednesday, vying for another record close as investors remain nervous about the euro zone’s sovereign-debt crisis and weak global growth.
Gold for December delivery GC1Z +0.44% gained $8.40, or 0.5%, to $1,794.30 an ounce on the Comex division of the New York Mercantile Exchange.
The metal closed Tuesday at a record $1,785 per ounce, rising $27 for the session.
In addition to the concerns about the global economy, the outcome of Tuesday’s meeting between the leaders of Germany and France “was disappointing,” analysts at Commerzbank said in a note to clients.
“Even with the intention of creating a joint economic government for the euro zone, it will be difficult to translate the differing views of member states into convincing compromises. Uncertainty thus remains as to how the debt crisis will develop and this should keep the demand for gold as a safe haven high,” they said.
Tuesday’s gains came after weak economic growth data from Germany and the rest of the euro zone.
Meanwhile, September silver futures SI1U +1.33% added 60 cents, or 1.5%, to $40.40 an ounce. A close around these levels would be the first time silver settles above $40 in two weeks.
