Gold News & Info

Source: Marketwatch

New York— Gold futures rose Thursday for the first session in the past five, after falling nearly $100 an ounce in the previous four sessions to their lowest level in nearly one month. Gold for December delivery rose $5.30, or 0.5%, to end at $1,125.70 an ounce on the Comex division of the New York Mercantile Exchange. The front-month contract lost nearly $100, or 8%, in the previous four sessions, the longest losing streak in six weeks. The contract ended at $1,120.40 Wednesday, the lowest settlement since Nov. 13.

"There is bargain hunting going on," said George Gero, a precious-metals trader for RBC Capital Markets. "We are stable and up for now with the dollar weakening." In economic news Thursday, first-time jobless claims rose by 17,000 to a seasonally adjusted 474,000 in the week ended Dec. 5, the Labor Department said. Economists surveyed by MarketWatch had expected initial claims to fall to about 450,000. See full story.