Gold prices surged to a near three-month high yesterday as risk averse investors turned to the precious metal after a equity marketsturned weaker, traders said. The rise in prices pushed gold above some resistance levels, triggering a wave of technical buying, they added.
Spot bullion in London, the market's benchmark, rose to an intraday high of $975.70 a troy ounce, up 2 per cent on the day, and the highest since early June.
