Gold News & Info

Source: Marketwatch

San Francisco— Gold futures on Thursday capped a milestone-studded week with settlement and intraday records as the dollar fell and investors sought gold ahead of a three-day weekend. Gold for June delivery, the most active contract, added $4.90, or 0.3%, to settle at $1,503.80 an ounce on the Comex division of the New York Mercantile Exchange. Silver settled at a 31-year high past $46 an ounce. The metal hit an intraday high of $1,509.60 an ounce, according to a preliminary tally on CME Group�s website. CME owns Comex.

Gold has been on a record-breaking tear since Friday, and Monday�s move by Standard & Poor�s Ratings Services, which revised its outlook for U.S. debt to negative, and the start of the dollar�s rout merely �added fuel to the fire� for those looking to the metal as an alternative to currencies, said Bill O�Neill, a principal at Logic Advisors in New Jersey. Investors also didn�t want to spend a three-day weekend without some sort of protection in gold, he added. Most financial markets will be closed in observance of Good Friday. Gold rose 1.2% this week, having added nearly $18 to Friday�s price. See full story.