Gold News & Info

Source:Marketwatch

New York— Gold futures finished higher for a third straight session on Wednesday on worries about the global economy and as the rebound in global stock markets prompted short-term speculative interest in metals and other commodities. Gold futures for June delivery advanced $15.40, or 1.3%, to $1,213.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold for August delivery, now the most active contract, rose $15.50, or 1.3%, to $1,215.30 an ounce. The contract on Tuesday inched up $4 to finish at $1,198 an ounce. So far this month, gold has gained nearly 3%. Bullion gained 6% in April.

"Investors are still steadily buying into the market, there's still a great deal of concern" about a pause in the global recovery and gold continues to benefit from these worries, said James Moore, an analyst at Thebulliondesk.com in London. Prices also got a boost from a World Gold Council report forecasting rising demand for the metal on the sovereign risk concerns and physical demand from Asia. See full story.