February 23, 2016 - 4:18 AM EST
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Gold Rises On Risk Aversion As Oil Tumbles

(dpa-AFX) - Gold futures rose Tuesday as stocks tumbled on renewed fears of a global recession.

The economic situation in

appears to be worsening, while plunging crude oil prices are hurting elsewhere.

Crude oil futures tumbled 5 percent today, prompting a 200 point drop in the Dow Jones Industrial Average.

With risk appetite waning, US gold for April was up 13 dollars at 1,223 an ounce, moving back near recent yearly highs.

With turmoil in the financial markets rattling consumers, the Conference Board released a report on Tuesday showing a much bigger than expected drop by

consumer confidence in the month of February.

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Source: Equities.com News (February 23, 2016 - 4:18 AM EST)

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