Gold Climbs For Third Successive Session (11th May '11)

Gold futures climbed up for the third successive session on Tuesday after investors continued to flee risky assets and high yielding currencies and took shelter under the safe haven as worries over Greece's sovereign debt issues loomed large. The further upside chances for yellow metal prices were limited by the appreciation in the US greenback against a basket of currencies which made the dollar denominated commodity less lucrative for holders of other currencies.

Gold futures for June delivery climbed by $13.70 to settle at $1,516.90 an ounce on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices added $3 to $1,516.10 an ounce.