Gold continues upward march for a third day

Gold climbed for a third day in London and approached a record as concern about Europe's debt crisis spurred demand for a protection of wealth. German Chancellor Angela Merkel and French President Nicolas Sarkozy rejected an expansion of the euro region's rescue fund and rebuffed calls for joint euro borrowing, while Switzerland's central bank said it will take further measures if needed to combat the Swiss currency's strength. Europe's shared economy grew 0.2 per cent last quarter, trailing economists' forecast for a 0.3 per cent increase. "Gold is still the most appealing asset in the short run, while uncertainty over the Eurozone's future will not evaporate overnight," Andrey Kryuchenkov, an analyst at VTB Capital in London, said in a report.