Spot gold rose 1.1%, or $9.60, to $872.30 an ounce from its close in New York yesterday, when it surged more than 10% or nearly $90, exceeding the previous biggest one-day gain in 1980. The price of the commodity is rising as investors scramble in search of a hedge against risk. In 1999, when the Bank of England started selling half of Britain’s bullion reserves, the price of gold was $254 an ounce. The Guardian (UK) Sept. 16, 2008
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