Gold jumps 1.5 percent on euro zone debt fears

Gold jumps 1.5 percent on euro zone debt fears

(Reuters) – Gold rose 1.5 percent on Friday, its biggest daily gain in two weeks, on safe-haven buying as investors fretted about euro zone debt after Fitch cut Greece’s credit ratings.

Bullion fell early in the session before turning higher after Fitch downgraded Greece’s rating and as the International Monetary Fund urged Europe to agree to more comprehensive measures to tackle the debt crisis….

http://www.reuters.com/article/2011/05/20/us-markets-precious-idUSTRE74F62H20110520

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