Gold News & Info

Source: Marketwatch

San Francisco— Gold futures managed to shed early losses and end with a gain Monday, while copper futures started the new year with another record high. Gold for February delivery added $1.50, or 0.1%, to $1,422.90 an ounce on the Comex division of the New York Mercantile Exchange. On Friday, gold ended 2010 with a 30% gain, its 10th yearly increase in a row. �The search for a �safe haven� in the wake of the still-swelling financial crisis in the euro-zone peripherals and inflation worries should mean that gold remains well supported,� wrote analysts at Commerzbank.

Copper for March delivery rose 1 cent, or 0.2%, to $4.458 a pound, a new closing record. Copper has been hitting new highs on renewed confidence in the global economic recovery and forecasts for increased demand from base-metals-oriented exchange-traded products. �Industries flush with money are adding industrial metals to the buy list and auto sales expected to be good will help,� said George Gero, precious metals strategist at RBC Capital Markets. See full story.