Gold News & Info

Source: Marketwatch

New York— Gold futures closed higher on Thursday, as mixed trading in the dollar and a rally in crude-oil prices boosted demand for the precious metal. Gold for February delivery rose $3.40 to end at $807.10 an ounce on the New York Mercantile Exchange.

"Today, I think you're seeing gold supported by a light sale into the dollar and some near-term support at the $785 level," said Zachary Oxman, a senior trader at Wisdom Financial. "The trade tried to take out $790, but failed and the market has pushed up since that point," Oxman said. "Also, you might be seeing some general short-covering and position flattening into the employment numbers coming up Friday." Oxman expects gold trading to remain choppy through the end of the year. See full story.