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Gold Prices Rose Above $900

Gold prices rose and stayed above $900 an ounce on Thursday

Spot gold stood at $912.40 an ounce at 05:42 GMT, up 0.6 percent from New York's notional close. It earlier rose as high as $914.05.

Traders called gold's recovery a minor one, however, led by investors and traders who had sold it recently.

After hitting an almost 1-year high above $1,000 last month, gold has shed about 10 percent in the past three weeks.

The global economic crisis continues to support demand for bullion, as investors flee other asset classes such as stocks and also because major governments' measures to address it tend to increase inflationary pressure.

Source: Reuters