Metals Stocks: Gold extends rise as havens find support

Gold futures stepped higher Tuesday, with analysts pinning the gain in part on haven demand sparked by Mideast tensions.

Gold for August delivery GCQ7, +0.96% rose by $12.10, or 0.9%, to $1,294.80 an ounce.

Prices, based on the most-active contracts, are on track to settle at their highest level since April 18, according to FactSet data. That would put gold at a seven-week high, and the metal is on pace for its third straight up session in a row.

Traders already had been expected to favor safety plays in this action-packed week, said Naeem Aslam, chief market analyst at ThinkMarkets, in a note.

>>> Original Source <<<