Price of Gold Jumps to Three-Month High on Global Economic Concerns

The price of gold is continuing to rise, supassing a three-month high early today (Thursday) to about 1,140 an ounce.

Gold prices are an important element in jewelry makers' decisions over how much of the precious metal to use.

Gold prices have been boosted by global growth fears and big drops in oil prices which have encouraged investors to seek safe-haven assets.

Gold is the best performing asset so far this year, rising by more than 6% even while while stock indices in the United States and Europe have dropped by similar levels due to a slowdown in China and a fall in prices of commodities that appear to indicate slowing global demand.