Gold News & Info

Source:Marketwatch.com

New York— Gold futures climbed to nearly $924 an ounce on Tuesday as a weaker U.S. dollar and pricier crude oil fueled demand for the precious metal as a hedge against additional drops in the greenback and steeper inflation. Gold for June delivery rose $10.40, or 1.1%, to $923.90 an ounce on the Comex division of the New York Mercantile Exchange. The finish marked the highest close for the contract since April 1.

The dollar index, which measures the greenback against a basket of half a dozen other major currencies, was recently trading flat on the day. In Tuesday trade, crude-oil futures briefly topped $60 a barely as data showed increased demand from China. The entire commodities complex drew an early lift from news that China's infrastructure and industrial development expanded more than 30% in the first four months of the year versus the same period in 2008, Beil said. See full story.