Gold prices rose 1 percent Tuesday as investors turned to the safe haven after comments by the leaders of France and Germany about closer eurozone integration and deficit limits failed to ease worries about that region's debt problems. Sluggish German growth data added to recession fears and as well as to gold's appeal.
Spot gold was up 1.1 percent at $1,784.99 an ounce by 3:34 PM EDT (1934 GMT), just $30 below a record $1,813.79 set on Thursday. It is up 25 percent this year driven by worries over US and euro zone debt levels. US gold futures for December delivery settled up $27 at $1,785 an ounce.
Trading volume totalled 160,000 lots, higher than Monday but sharply slower than the last week's pace when the metal rose to records amid high volatility. Among other precious metals, silver was up 0.5 percent at $40.05 an ounce. Platinum was up 0.6 percent at $1,813.50 an ounce, while palladium was up 1.3 percent at $754.22 an ounce.
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