Why $1,200 is important for gold

Golds close above $1,200 an ounce may mean a lot more than you think.

Future prices for the metal rallied Thursday, with the August contract GCQ5, -0.28% surging $25.20, or 2.1%, to settle at $1,202 an ounce on Comex, the highest close for a most-active contract since May 22.

Read more: http://www.marketwatch.com//why-120...tant-for-gold

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