NEW YORK (MarketWatch) -- Gold futures rose on Monday after Moody's Investors Service said risks are growing for the ratings of the four largest AAA-rated economies -- the United States, the United Kingdom, Germany and France -- leading investors to seek shelter in gold.
"Sovereign-debt issues and currency risk remain prevalent and look set to keep gold buoyant for the foreseeable future," analysts at GoldCore wrote in a note. "Indeed, gold is increasingly being seen as a safe-haven currency."
Gold for April delivery gained $3.70, or 0.3%, to end at $1,105.40 an ounce at the New York Mercantile Exchange.
