Gold settles above $1,350 at five-week high
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Posted On: 10/24/2013 6:13:52 PM
Gold settles above $1,350 at five-week high
Prices break overhead resistance at $1,345; dollar weakness supportive
SAN FRANCISCO (MarketWatch) — Gold futures tacked on more than 1% on Thursday for their highest close in five weeks as a gauge of manufacturing in China, one of the world’s biggest gold buyers, climbed to a seven-month high in October.
Gold for December delivery (CNS:GCZ3) gained $16.30, or 1.2%, to settle at $1,350.30 an ounce on the Comex division of the New York Mercantile Exchange. Prices, tracking the most-active contracts, haven’t closed at a level this high since Sept. 19, according to FactSet data. http://www.marketwatch.com/story/gold-rises-a...=afterbell
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