Gold News & Info

Source: Marketwatch

San Francisco— Gold futures closed more than $3 higher Thursday as a larger-than-expected rise in U.S. wholesale prices renewed concerns about inflation, boosting gold's appeal as an investment hedge.

Led by another big gain in energy prices, wholesale prices rose a greater-than-expected 0.9% in May, the Labor Department reported Thursday. Wholesale food prices fell 0.2%, the first decline in seven months. Energy prices jumped 4.1%, the biggest increase in six months. See full story.