Gold News & Info

Source: Marketwatch

New York— Gold futures rose Monday for a second session, up more than 1% as the U.S. dollar continued to fall against most rival currencies, boosting gold's investment appeal. The dollar fell after finance ministers from the Group of Seven nations made no specific mention of the currency in a communiqu� at their weekend meeting. Gold typically gains in face of weakness in the greenback.

Also helping gold, holdings in the biggest gold exchange-traded fund rose in the previous session, and crude oil rose above $70 a barrel, raising gold's appeal as a hedge against potential inflation. On the Comex division of the New York Mercantile Exchange, the most actively traded December gold contract gained $13.50, or 1.3%, to $1,017.80 an ounce, after having risen as high as $1,018.90 an ounce. The less active October contract gained $13.5, or 1.3%, to $1,016.70 an ounce. See full story.