MW: Gold gets lift as calmer markets pressure dollar
By Nick Godt, MarketWatch
NEW YORK (MarketWatch) -- Gold advanced on Tuesday, as hopes of a rescue plan for Greece helped soothe investors' nerves, pressuring the dollar and lifting the price of commodities.
Gold for April delivery was recently up $7.90, or 0.8%, at $1,074.10 an ounce in electronic trade.
The contract gained 1.3% on Monday at the New York Mercantile Exchange.
Hope of a rescue for Greece was fueled after European Central Bank President Jean-Claude Trichet's earlier-than-planned departure from an event in Australia to attend a meeting of European Union leaders in Brussels on Thursday.
The euro jumped 0.7% to $1.3748. The dollar index (DXY 80.06, -0.24, -0.30%) , which tracks the performance of the greenback against a basket of currencies, fell 0.5% to 79.981.
Also helping gold in the early goings was news that China's sovereign-wealth fund bought 1.45 million shares of the SPDR Gold Trust (GLD 105.00, +0.96, +0.92%) , the largest exchange-traded fund backed by gold.
