Gold climbed to within sight of its strongest level in nearly three years on Tuesday as US and European stock markets fell against the backdrop of possible US-led military action against Iraq. Spot gold traded at $327.25 an ounce in European business, its firmest point since June 7. The next target for the asset, favoured by investors as a haven in troubled times, was $330.30 an ounce hit on June 4. If achieved, this would take gold to levels not seen since October, 1999 when European central banks agreed to cap their sales of the metal to reverse its 20-year bear market.
