Gold News & Info

Source: Marketwatch

New York— Gold rose modestly Tuesday as China outlined plans to support the growth of its bullion market, the dollar remained weaker and Asian buyers moved into the market. Gold for December delivery, the most active contract, gained $2.10, or 0.2%, to settle at $1,187.50 an ounce on the Comex division of the New York Mercantile Exchange.

Gold has risen for the past five sessions, including a 1.3% rise on Friday. Prices have been on a modest rebound after settling at $1,158 an ounce July 27, a three-month low. "This could be the beginning of a turnaround in prices and potentially the beginning of another leg up for gold," said Scott Meyers, a senior trading analyst with the Pioneer Futures Division of MF Global. Other metals slid Tuesday, with platinum, palladium and copper coming off their multimonth highs as the day's round of macroeconomic reports disappointed. See full story.