Gold News & Info

Source:MarketWatch

New York— Gold futures climbed Wednesday, furthering the prior day's strong gains, as the latest economic data pointed to signs of inflation ahead, bolstering the dollar-denominated precious metal's appeal as a hedge. "We're up today on renewed enthusiasm along with the equities market. With mortgages increasing and the positive ADP numbers … it could lead to inflation down the road," said Rob Kurzatkowski, senior commodities analyst, OptionsExpress.

In another signal that the pace of the economy's decline is moderating, an industry report found private-sector employment fell by an estimated 491,000 jobs in April, the smallest decline in six months. Also helping boost sentiment, the Mortgage Bankers Association reported a 2% rise last week in the count of mortgage applications, adding to thoughts that the troubled housing market could be stabilizing.See full story.