Gold News & Info

Source: Marketwatch

New York— Gold futures closed above $1,100 an ounce Monday for the first time, as the dollar fell to a 15-month low and investors kept piling into bullion on expectations other central banks would buy the metal as a reserve unit. Gold for December delivery, the most active contract, climbed $5.7, or 0.5%, to $1,101.40 an ounce by the close of floor trading on the New York Mercantile Exchange's Comex division. The contract had moderated its gains as floor trading wound down. Earlier gold hit an intraday record high of $1,111.70 in electronic trading. The thinly traded November gold contract rose $5.7, or 0.5%, to $1,100.08 an ounce, a closing high for a front-month contract. It had earlier hit $1,109.3 an ounce, a fresh intraday high for a front-month contract.

"The U.S. dollar is certainly the main trigger today," said Suki Cooper, a precious-metals analyst at Barclays Capital. Yet "there's a cocktail of factors, ranging from dollar weakening to news last week that Asian central banks are buying gold." See full story.