Gold ends at 5-month high on central-bank hopes
Metal pushes past $1,700 an ounce before paring gains
SAN FRANCISCO (MarketWatch) — Gold futures on Tuesday rose to their highest level in more than five months on expectations of more action from global central banks.

The metal briefly pushed past the key psychological level of $1,700 an ounce after a report showed a contraction in U.S. manufacturing, but pared gains before the close.

Gold for December delivery (CNS:GCZ2) rose $8.40, or 0.5%, to end at $1,696 an ounce on the Comex division of the New York Mercantile Exchange. That was gold’s highest close since mid-March.

The metal had traded as high as $1,701.60 an ounce.
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