Gold News & Info

Source: Marketwatch

New York— Gold futures closeded slightly higher in a choppy Monday session, as a weaker dollar and political tensions in Iran raised the precious metal's investment appeal. The most actively traded February contract rose $3.10, or 0.3%, to $1,107.90 an ounce on the Comex division of the New York Mercantile Exchange, while the thinly traded December contract was also up 0.3% at $1,107.20. Both contracts were lower in earlier trading.

Gold ended last week's trading down slightly, recovering after having touched a seven-week low early on. "Technically, gold bounced nicely off of $1,070 support," said Brian Kelly, chief executive of Kanundrum Research, a commodities and macroeconomic research firm. "I would expect that the metal consolidates those gains as year-end approaches." Also affecting trading were "rising geopolitical tensions in the Middle East," he said. See full story.