Gold price jumps 4%

London: Gold jumped 4 per cent on Friday as jittery investors rushed to buy bullion, seeking a safe asset as uncertainty over a proposed $700-billion US bailout rescue plan mounted.

Spot gold was up at $894.40/$896.00 per ounce by 1500 GMT, a rise of $18.7, compared with the previous nominal close of $875.70. Earlier, it fell as low as $866.20 an ounce.

The euro climbed to around 1.4648 against the dollar, after trading around $1.4580 earlier in the session. The dollar also fell 1 per cent against the Jap-anese yen.