Gold Climbs a second day on Euro concerns
Gold gained for a second day in New York as concern Europe’s sovereign-debt crisis is worsening spurs demand for the metal as a protection of wealth.
The euro reached a four-month low versus the dollar after Fitch Ratings downgraded Greece’s long-term credit rating, citing heightened risk that the nation may not be able to sustain membership in the monetary union. Bullion jumped 2.5 percent yesterday, the most since October, as a U.S. report showed manufacturing in the Philadelphia region unexpectedly shrank [...]

