Gold rises 2% in rally after pledge to resolve crisis

GOLD rose 2% yesterday in a risk rally with equities and commodities, as the dollar tumbled after a renewed Franco-German pledge to introduce a plan to resolve the eurozone’s debilitating debt crisis.

Trading volume of gold futures was extremely thin due to the US Columbus Day holiday.

Bullion notched its biggest one-day gain in a week, as US stock markets, oil and the euro surged.