Gold futures settle at a three-week high SAN FR
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Gold futures settle at a three-week high
SAN FRANCISCO (MarketWatch) — Gold futures climbed by more than 2% on Tuesday to close at their highest in three weeks, as prices continued to bounce back from lows hit in early December.
Investors also speculated about whether the Federal Reserve will begin scaling back its bond-buying program this month.
“Perhaps gold prices had become too low for traders to avoid,” said Jonathan Citrin, founder and executive chairman at CitrinGroup.
Gold for February delivery (CNS:GCG4) gained $26.90, or 2.2%, to settle at $1,261.10 an ounce on the Comex division of the New York Mercantile Exchange. That was the highest close for a most-active contract since Nov. 19, FactSet data show.
March silver futures (CNS:SIH4) climbed 61 cents, or 3.1%, to $20.32 an ounce. http://www.marketwatch.com/story/gold-gains-e...2013-12-09
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