Gold Surges Above $1,800 an Ounce

Gold prices rose back above $1,800 an ounce on Thursday as risk-averse investors sought refuge in the precious metal from concerns over the lingering euro zone debt crisis and losses in assets seen as higher risk, like stocks.

Spot gold hit a high of $1,800.54 an ounce and was up 0.6 percent at $1,798.69 an ounce at 1024 GMT.