Gold Rises As Sliding Stocks Boost Safe-Haven Demand

Gold prices rose on Thursday, helped by a weaker dollar and as a recovery rally in global stock markets fizzled out, driving investors towards the safe-haven asset.

Spot gold was 0.8 percent higher at $1,277.45 per ounce at 1:46 p.m. EST (1846 GMT), after hitting $1,279.06 in the previous session, its highest since June 19. U.S. gold futures settled up 0.6 percent to $1,281.10 per ounce.

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