Gold News & Info

Source: MarketWatch

New York— Gold futures rose Tuesday, after losing the most in nearly nine months in the previous session, as a weakening U.S. dollar raised the metal's appeal as an alternative investment. Gold for February delivery, the most active contract, rose $6.50, or 0.8%, to end at $783.30 an ounce on the Comex division of the New York Mercantile Exchange. December gold futures, the front-month contract, ended at $781.30 an ounce.

The February contract slumped 5.2% Monday, the biggest one-day percentage loss since March, according to FactSet Research, as the confirmation that the U.S. economy was in recession triggered a fresh round of asset liquidation. Other commodities also fell, with the benchmark crude contract tumbling 9.4%. "Given the recent rise in inter-bank cash rates and the likelihood of further risk reduction toward year-end, we expect commodities to remain vulnerable to further bouts of liquidation," wrote James Moore, a precious metals analyst at TheBullionDesk.com. See full story.