Gold News & Info

Source: Marketwatch

New York— Gold futures squeezed in some small gains by the close of trading Tuesday, with the front-month contract ending at a record high, supported by a purchase of gold by the central bank of Mauritius and as mixed U.S. economic data failed to give much of a lift to the dollar. The International Monetary Fund said late Monday that it has sold 2 metric tons of gold to Mauritius. The purchase had "at least a psychological impact," said Carsten Fritsch, analyst at Commerzbank, in a note. The move helped provide real support for the precious metal as opposed to the "predominantly short-term investors" who are "driving the current gold price rally," he said.

After trading lower for much of the session, gold for December delivery finished up 20 cents at $1,139.40 an ounce on the Comex division of the New York Mercantile Exchange. The thinly-traded November contract also gained 20 cents to end at $1,138.80 an ounce, a new record close for a front month contract. See full story.