New York, NY (BBN)– Gold settled above US$ 1,248 an ounce on Wednesday after an initial rally to above US$ 1,250 fizzled, following strong U.S. manufacturing data boosted investor appetite for riskier assets. 
The gold price rose to $1248.50 per ounce on Wednesday from $1238.40 per ounce of the previous day, according to reports. 
BBN/SI/AD-02Sept10-11:05 am (BST)