The price of gold climbed to one month high this morning at $1728 an ounce as uncertainty surrounding the European debt crisis kept gold bullion in demand with investors and traders. Gold rose above $1700 for the first time in a month on earlier on Tuesday, propelled by the gloomiest US consumer sentiment data in over 2 years. On Tuesday, gold futures also posted their biggest turnover in a week at nearly 200,000 lots. Meanwhile, gold futures rose to their highest in more than a month on early this morning after European leaders agreed on a plan to contain the region’s debt crisis, lifting sentiment in the financial markets, while a weaker US dollar helped push commodity prices higher. Euro leaders reached agreement on a comprehensive package of measures to tackle the bloc’s debt crisis after an EU summit that ran into the early hours of Thursday, spurring the euro to a seven week high against the US dollar. Gold rose in tandem with other commodities and equities, with cash prices hitting a one-month high of $1,728.11 an ounce, before easing to $1,722.49 by 0320 GMT, on course for its fifth straight session of gains. US gold futures, which also hit a one month high of $1,729.7, traded nearly flat at $1,724.60.

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