Gold News & Info

Source: Marketwatch

San Francisco— Gold retreated from a record rally Thursday, as the dollar turned higher before Friday�s U.S. payrolls report, a key piece of data that the U.S. Federal Reserve is expected to weigh when determining whether quantitative easing will be necessary. Gold for December delivery an ounce on the Comex division of the New York Mercantile Exchange.

Michael Smith, president of T&K Futures and Options Inc., a commodity trading company based in Florida, expects prices to keep rising, but �we�ll see a lot of corrections in between.� The precious metal�s early-morning rally was supported by weakness in the U.S. dollar and expectations that central banks may take more quantitative-easing measures. �If we�re going to keep putting more money into the system, and if other countries� central banks continue too, we�re going to see much higher prices for precious metals,� Smith said. See full story.