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Summary The gold prices climbed after a forecast called for the European economy to shrink this year.
Gold prices are climbing after a forecast called for the European economy to shrink this year. Thats raising questions about global economic growth.Gold rose $15 to finish at $1,786.30 an ounce Thursday, its third straight day of gains. Gold is considered a relatively stable asset to hold during uncertain economic times. Investors are buying it as a hedge against potential losses in other holdings.The European Commission is predicting that the overall economy for countries that use the euro will shrink 0.3 percent this year. The forecast has created concerns that government austerity measures being used to try to curb debt could be deterring growth.In other trading, prices for silver, platinum, palladium, oil, corn and soybeans are higher. Natural gas, copper and wheat are lower.
