Gold News & Info

Source: Marketwatch

San Francisco— Gold futures climbed as a drop in the U.S. dollar to its lowest level since November made the precious metal more attractive to investors. Gold futures finished higher, getting a lift from a weaker dollar after the metal spent part of the session trading on either side of the unchanged level. �Gold is rallying on a collapse of the dollar to 12-week lows,� said Peter Grant, senior metals analyst at USAGOLD-Centennial Precious Metals Inc. The dollar index, which tracks the greenback against a basket of six other currencies, slipped to 77.063 from 77.777 late Monday. It fell as low as 76.969, the weakest in nearly three months.

For gold, it�s an �evaporation of safe-haven bid in greenback after biggest protest yet in Egypt failed to illicit a violent response from [Egyptian President Hosni] Mubarak,� said Grant. Gold for April delivery closed up $5.80 at $1,340.30 an ounce on Comex. Copper for March delivery rose 9 cents, or 2%, to end at $4.547 a pound � the metal�s highest closing level ever on the Comex division of the New York Mercantile Exchange. See full story.